Source: Getty.

Risen Energy will develop up to 300MW of PV capacity in Spain for a cryptocurrency miner.

Cryptosolartech is building two energy-intensive cryptocurrency farms in Malaga. The firm aims to power each of its mining facilities with renewable power to negate an increasing criticism of cryptocurrencies, their carbon footprint.

The first phase will see two farms in the province of Seville powered by three PV plants totalling 45MW.

Risen Energy Spain will develop and take on engineering, procurement and construction (EPC) responsibilities for the projects.

Funding for the project is secured against the launch and sale of the cryptocurrency tokens from the farms and based on a 15-year power purchase agreement (PPA).

According to the company: “Cryptosolartech is an ERC-20 utility token working within Ethereum in the Blockchain, that can be exchanged in multiple ways.”