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On Saturday, Nov 18, Trojan Mining, a Nigerian bitcoin mining company, announced their work-in-progress 500KW hydro-powered bitcoin mining facility in Nigeria. This news comes amid the growing number of global bitcoin mining facilities being set up or expanded ahead of the bitcoin halving in April next year.
Huge props to our friends in Nigeria with their first locally built bitcoin mining container. Can’t wait to hear the hashing! https://t.co/lPEnqVcKb3
— Gridless (@GridlessCompute) November 18, 2023
Bitcoin Mining In Nigeria
Historically, bitcoin mining in Nigeria has been challenging, from the lack of regulatory clarity to difficulty finding a suitable location, expertise, and coarse economic conditions mainly due to inflation that induces volatile prices of local electrical and hardware costs. However, a number of these factors are drastically changing.
Given the recent announcement in June by the Nigerian Federal Government under the Electricity Act that allows state governments to generate their electricity and manage their energy infrastructure independent of the national grid, it is now more convenient and economically viable to set up mining operations in states with abundant energy.
Trojan Mining
Trojan Mining is one of Nigeria’s few bitcoin mining companies that launched earlier in 2021 and is a member of the Green Africa Mining Alliance—a collective of African bitcoin miners looking to standardize renewable energy mining practices.
Trojan Mining operates its mining fleet with hydro-power and will expand its setup to accommodate the newly launched hydro-powered 500KW facility. This expansion includes their first locally-built mining container. It will bring in 150 additional ASICs over the next few months and work through the required electrical, hardware, and software upgrades, including the setup of a dedicated transformer.
When asked about their strategy, CEO, Yassar Siyanbola, shared that “our formula is tied around exploring green energy sources and partnering with industrial experts in the bitcoin mining industry.”
In building this new facility, Siyanbola cites Gridless as providing important input and help through the process, with Marshall Long, Texan bitcoin mining veteran, providing his support and expertise along the way.
According to Siyanbola, the new hydro-powered facility is one of two he has planned…
