Cryptocurrency Mining Powered by Renewable Energy Using a DC-DC Connection

Abstract

Cryptocurrency mining is energy-intensive and large operations could put pressure on an already failing national grid in South Africa. Therefore, this report will discuss a way to alleviate some energy pressure from cryptocurrency mining using solar energy. This is relevant since cryptocurrency is gaining adoption and is increasingly being used and relied upon. Cryptocurrency is also an investment vehicle, and many use cases for blockchain technology have been and are being developed. By using MATLAB Simulink software, the DC-DC connection was designed and simulated. The output voltage results of the system were compared to the required voltages that a Graphics-Processing-Unit (GPU) mining rig requires, and the financial feasibility was determined by calculating how many cryptocurrency coins were mined per day and compared against fiat value. The results of the design show that it is theoretically possible to have a DC-DC connection directly from solar panel system to the mining rigs without the need to convert to AC first. It was also determined that such a system is financially viable as the return on investment was estimated to be around 2 years.