Bitcoin Mining Powered by Excess Energy: Lugano's Sustainable Initiative

On 17 October 2023, Gabbani, a well-known hospitality company in Lugano, Switzerland, unveiled an initiative that aims to reinforce Lugano’s existing prominence as a top European hub for blockchain technology. The project focuses on the eco-friendly utilization of surplus energy, channeling the extra power generated at Gabbani’s food manufacturing facilities into a cutting-edge Bitcoin mining setup.

According to a blog post by Tether, Lugano has already carved out a niche for itself as a significant blockchain center in Europe, effectively demonstrating the real-world applications of blockchain within its local communities. The city has been active in incorporating cryptocurrencies such as Bitcoin, Tether, and LVGA for a variety of payment methods. It has also rolled out educational programs to foster long-term blockchain adoption. Gabbani’s recent decision to establish a state-of-the-art Bitcoin mining infrastructure within its manufacturing facility further cements Lugano’s role as an existing leader in the embrace of decentralized, resilient technologies.

In conjunction with this, Gabbani has launched a new product known as “the Banettone.” This product is in line with Plan ₿, a cooperative venture between the City of Lugano and Tether. The aim of Plan ₿ is to speed up the adoption and practical application of Bitcoin technology, thereby transforming the city’s financial framework.

Gabbani’s manufacturing facility, where the Banettone and other items are produced, has recently seen the addition of a 100k KW solar panel system. Tether says that this strategic upgrade serves a dual function: it enhances Gabbani’s energy self-reliance and also allows the company to channel the extra energy produced during the making of Banettone and other goods into Bitcoin mining activities.

Per Ripple’s blog post, given the recent global geopolitical uncertainties that have led to significant swings in energy prices, especially in Europe, Gabbani’s strategy offers a proactive safeguard against such volatility and this forward-thinking stance positions Gabbani as a pioneer in its sector, potentially establishing a new global standard. The initiative marries Gabbani’s long-standing history of high-quality food production, which has its roots in 1937, with contemporary technologies, emphasizing the company’s dedication to a sustainable future and ongoing growth.

ACME, a Swiss firm specializing in Bitcoin mining and renewable energies, has been an instrumental partner in bringing this transformative project to life. Motivated by Lugano’s Plan ₿, ACME has lent its R&D expertise, collaborating with global corporations like Tether on multiple projects, including those in Uruguay. ACME has furnished Gabbani SA with a state-of-the-art, turnkey solution, further ensuring the initiative’s successful implementation.

As for Plan ₿, it’s a joint initiative between the City of Lugano and Tether, intended to accelerate the incorporation of Bitcoin technology as the foundational element of the city’s financial ecosystem. The plan aspires to weave blockchain and Bitcoin into various aspects of daily life in Lugano, ranging from small transactions with local merchants to more substantial activities such as annual tax payments.

Featured Image via Gabbani

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