Malawian Villages Use Bitcoin Mining to Fund Sustainable Electricity Access
• Remote villages in Malawi are using hydroelectric power and Bitcoin mining to fund electricity access for homes and businesses. This provides light, refrigeration, and economic opportunities.
• The system was set up by a Kenyan company called Gridless that aims to show how Bitcoin mining can fund renewable energy access across Africa.
• Bitcoin mining soaks up excess renewable energy and provides revenue to maintain the systems without reliance on aid or subsidies. This encourages sustainability.
• Africa suffers from currency instability and financial repression. Bitcoin offers an alternative store of value and payment system that is more stable and empowering.
• Bitcoin adoption is grassroots and genuine across Africa. Young populations are driving innovation that increases financial inclusion. There is optimism about Bitcoin's potential, despite recent crypto exchange troubles.