SOLISMEA (SLM)

What is SOLISMEA

Solar power is the conversion of energy from sunlight into electricity. A solar cell is a device that converts light directly into electricity with photovoltaics, using the photoelectric effect. In the last two decades, photovoltaics, also known as solar PV, has evolved from a pure niche market of small scale applications towards becoming a mainstream electricity source. Solar cells are rapidly becoming an inexpensive and eco-friendly, low-carbon technology to harness renewable energy from the Sun. Our focus is on powering cryptomining farms with this energy.

Cryptocurrency mining, or cryptomining, is a process in which transactions for various forms of cryptocurrency are verified and added to the blockchain digital ledger. Each time a cryptocurrency transaction is made, a cryptocurrency miner is responsible for ensuring the authenticity of information and updating the blockchain with the transaction. In return for the service provided, cryptominers earn small amounts of cryptocurrency of their own.

While cryptomining can generate income, expenses like electricity, internet connection, and computing hardware also impact the net revenue generated by cryptocurrency mining.

SOLISMEA has designed a system with sustainability and profit in mind. To be able to mine various types of cryptocurrencies, the mining rigs utilize GPU-miners, each rig operating on solar power. Since the amount of electricity generated highly depends on sunlight intensity, it is designed to utilize a solar power system with batteries instead of relying on the grid when the consumption is greater than the amount generated (cloudy days or at night). We also have developed a smartphone app for investors with mining contracts to monitor and manage the conttracted/virtual miner.

Right now, most of the mining capacity is in China, due to the low energy and labor costs. This is about to change however, as the Chinese government has banned cryptocurrency mining in China, effective from 2021. This means the cryptomines operated there will have to be moved or shut down completely, which makes the perfect time to take part in this multi-billion dollar business.