South Africa's national power company Eskom plans to expand its Bitcoin mining business to alleviate its debt burden.

Gate News bot message, According to MSN reports, in the face of operational difficulties, South Africa's national power company Eskom is exploring new business directions such as supporting Bitcoin mining, artificial intelligence, and data centers.

Eskom CEO Dan Marokane stated that due to the proliferation of renewable energy, the company's electricity sales are expected to decline by 4% in 2024. To alleviate the pressure of 403 billion rand (approximately 22.7 billion USD) in debt, the company is exploring new sources of revenue.

Data shows that the average unexpected power outage in South Africa's grid reached 15,076 megawatts between June 13-19, and the country is considering implementing Stage 2 load shedding for winter. Eskom plans to reference the experience of Texas in the United States to balance the grid load by utilizing the interruptible power characteristics of Bitcoin mining farms.

View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Share
Comment
0/400
No comments
Trade Crypto Anywhere Anytime
qrCode
Scan to download Gate app
Community
English
  • 简体中文
  • English
  • Tiếng Việt
  • 繁體中文
  • Español
  • Русский
  • Français (Afrique)
  • Português (Portugal)
  • Bahasa Indonesia
  • 日本語
  • بالعربية
  • Українська
  • Português (Brasil)