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L.A. Company Introduces a Unique Way of Preserving the Oceans: Mine Them For Bitcoins

L.A. Company Introduces a Unique Way of Preserving the Oceans: Mine Them For Bitcoins

Reading Time: 2 minutes by on April 18, 2018 Bitcoin, Finance, Mining, News
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FF Los Angeles, an advertising firm, has designed an innovative bitcoin ‘Ocean Miner’ for the Tara Expéditions Foundation.

Lack Of Funding Prompts Bitcoin Mining

According to statistics, only a petty three percent of donations are made to charities which work toward preserving the environment. The low proportion of funds actually reaching where they are needed represents a roadblock for many firms, who either shut their organizations or move toward other charitable causes.

However, the Tara Expéditions Foundation – which has spent thirteen years working towards ocean preservation – and FF Los Angeles, might have the solution to fund environmental organizations; crypto-mining.

A Bitcoin Miner Harnessing Natural Energy

The aptly named ‘Ocean Miner,’ the hydraulic turbine is already installed in the Gulf of Morbihan, France. The methodology is a hybrid of blockchain and land art, enabling oceans to go some way toward financing their own preservation by producing bitcoin.

The turbine, driven by steam action, transforms the energy from the ocean to electrical energy. A mining rig is attached to the turbine, thus producing a margin of bitcoin for the owner. Mined bitcoins are then converted into euros and immediately re-invested in ocean research. After almost a month of running the turbine miner, the Tara Foundation has collected $250, spread over the entire implementation phase.

Romain Troublé, managing director of the Tara Expéditions Foundation, is quick to note that the  mining system does not cover all costs, yet, the naturally powered contribution is “symbolic.”

Troublé explained:

“It is a powerful way of recalling that only the mobilization of everyone together will make it possible to fund the research to study, understand and to better protect the ocean in the future.”

FF, a world-renowned advertising firm, is not the kind of company that would work in the niche field of harnessing natural resources for bitcoins. But Fred Raillard and Farid Mokart – the founders of FF – say their company has been actively involved with multiple creative social responsibility projects, such as refugee help, social advocacy, and environmental issues.

They added, “Today, we’ve decided to focus our creativity on a place of huge importance that doesn’t get the attention it needs; our oceans.”

Natural Resources A Sustainable Way To Mine Cryptocurrencies

In the future, using naturally generated, renewable energy might be a popular choice for mining business.

The effects couldn’t be more obvious – renewable energy is free of cost, has no environmental implications, and would never run into opposition.

During early 2018, a Japanese power producer – Kumamoto Energy – announced their use of solar energy for mining cryptocurrencies.

An affiliate of the company, OZ Mining, intends to use excess power generated at solar power plants for their cryptocurrency mining operation. The company expressed upcoming partnerships – with other Japanese electricity enterprises – in order to run “mega solar plants” in the Kumamoto Prefecture.

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