- Mining cryptocurrencies creates an excess of heat that can cost a lot of money to dissipate in order to keep mining rigs running at optimal temperature.
- “We will be using ASIC rigs as they take up less space and it requires significantly less investment into mining rigs in order to achieve the desirable heat output. We would require around 10x more capital to create the same heat using GPU rigs” said Keven Laverdure – Grevio CEO – in an exclusive interview with BitStarz News.
- Mining cryptocurrencies can be a low cost and beneficial option to replace heating in homes, offices, farms and, leisure centers all around the globe.
“Farming has got a bit of a bad reputation as of late for being resource intensive and harmful to the planet. Just one aspect of that is the vast amount of energy these farms consume to simply heat barns and paddocks. Grevio has come up with a solution, whereby it will use crypto mining rigs to mine Bitcoin in the center of the farm. It will then capture the heat and use it to warm the farm, helping to increase the yield of its produce.
Alex Meears spoke with Keven Laverdure – Grevio CEO – to find out exactly how this groundbreaking cricket farm will work, along with how it’s inspiring a new generation of farmers to support the planet and go green.
AM: What gave you the idea to farm crickets using the heat from crypto mining rigs?
KL: I have been in the crypto industry in one way or another since early 2013. I fell in love with the whole industry pretty quickly and soon had a craving to learn everything about crypto. From there I learnt about crypto mining and the “free heat” that the mining process generates. I had been toying with the idea of creating a robotic lettuce farm that used Bitcoin mining to heat the facility, but it was proving to need way too much initial capital and expertise. This led me to come up with the idea to swap out lettuce for crickets and to keep the Bitcoin mining rigs as their heat source.
The cricket industry is currently very niche, but there is a massive demand for crickets all around the globe. For the time being, crickets are still considered a luxury item in Canada and there is a relatively low supply of crickets to the market. The farming of crickets consumes far less resources than farming livestock, while the final product is more nutritious compared to beef.
So, merging a passion for crypto with this new industry presented itself as a really exciting challenge, and it appears as if a lot of other people think the same thing. When I speak with suppliers they are fascinated by the project and want to learn more.
AM: Did you choose the location of the farm based on low-cost power, crypto mining regulations, convenience for commuting, or just pure coincidence?
KL: I was born in Québec, so for me it’s a familiar area that feels just like home. However, there are some huge advantages of setting up this kind of operation in Québec. First of all, there is a vast number of skilled workers that are available to hire in the area and they are relatively inexpensive. Secondly, Québec has some of the lowest energy costs in the developed world – this is a huge factor and will ensure that the business remains financially profitable, even if we have a bad harvest or the crypto market crashes even further. Other factors such as the low to medium corporate tax level, a high amount of natural resources, and proximity to North-Eastern USA market, as well as the port of Montreal are all huge advantages of choosing this location.
AM: Will you only be mining Bitcoin at your cricket farm, or will you be looking into mining other profitable altcoins?
KL: I know there are a lot of profitable altcoins that can be mined, but for the meantime I don’t have enough time on my hands to do all the necessary research and leg work to implement any of these. For now, we are going to focus on Bitcoin mining using ASIC rigs and mine. As we grow larger and hire more staff, mining other coins is something we will definitely be looking into.
We are using ASIC rigs as they take up less space and we require less investment into mining rigs in order to achieve the desirable heat output. We would require around 10x more capital to create the same heat using GPU rigs, so ASIC mining is definitely a clear winner for us.
AM: Do you think other industries could learn a thing or two from what you are doing at the moment?
KL: I believe there are a few industries that could benefit from crypto mining. The first being any company or entity that needs to keep a constant temperature of above 20 degrees Celsius. If the electricity cost is favorable, crypto mining will offset the cost of heating the environment, while having the added benefit of generating additional finances. Great candidates for these types of projects are zoos, biodomes, greenhouses, indoor hydroponics, aquaponics, insect breeding, and any heated pool. In fact, I know a group of people that will be placing crypto mining rigs in the basement of an office tower block to supply heating to the entire building.
Secondly, any business that produces power would benefit in the long term from mining cryptos, whether it’s a wind farm, solar farm, cold fires power station, or nuclear plant. All of these power generation plants/farms are required to produce a surplus in case of a spike on the grid. This surplus is more often than not wasted, and crypto mining could help with this problem. If the power generation firms used this surplus power to mine cryptos, then when a surge is detected the crypto mining operations are automatically switched off and the power diverted to the grid. Once the power demand spike is over, the crypto mining rigs would then receive power again and carry on their mining.
AM: Sustainability and being environmentally friendly is a huge thing in farming and crypto mining at the moment, how will you ensure that your project remains in line with these current trends?
KL: We will ensure that our operations remain as environmentally friendly as possible thanks to a number of factors – the primary factor being that we are based in Québec. All of our power comes from a state-owned business called Hydro-Québec. All of the power it generates for the grid is from a hydroelectric dam, meaning it has a very low carbon footprint and its renewable energy.
AM: Will you be accepting crypto as a form of payment for your final product?
KL: When we are up and running, we will be accepting cryptocurrencies as a method of payment for our crickets. As I mentioned earlier, I have been working in the crypto industry for quite some time, and accepting crypto for our final product makes complete sense.
AM: Do you think more user-friendly crypto mining rigs could eventually be placed in every home and replace central heating during the winter months?
KL: Setting up a crypto mining rig can be a little daunting at first, but with proper tutorials and guides home crypto mining definitely has the potential to become a big thing. Now that mining is becoming more decentralized thanks to the downfall of Bitmain, it’s actually profitable to mine crypto at home now – not to mention the added benefits of “free” heating.
In fact, one of my friends is using four ASICS to heat his large house. Québec receives some of the harshest winters in the world, so if it works here it can work anywhere. Noise can be a problem, but if you can set it up in a garage or an outhouse then the noise becomes a non-issue. When you work out how much you would save on heating bills you will be truly amazed at the potential using crypto for heating has.
AM: Finally, do you see the sustainable farming industry having a future within the crypto industry?
KL: I think it has a huge chance to become a more mainstream way to heat farms and other businesses, but it really depends on the location of that farm or business. If the farm is in a warm region that is more often than not at the desired temperature naturally, then mining cryptos for their heat would be pointless. For instance, we expect to close our machines for around 40 days during the middle of the summer, as the ambient temperature will be perfect for cricket farming.
It won’t be long before Grevio is all set up and farming crickets. Once it’s first batch of crickets are ready for sale, you can enjoy the first batch of crypto heated cricket. Keep up to date with Grevio’s latest developments by following them on Instagram – @Greviofarm. Stay tuned to BitStarz News for the latest crypto news and interviews with industry leading experts – including all things crypto cricket related!