Nigerian Bitcoin Mining Company Trojan Mining Unveils 500KW Hydro-Powered Site
Employing hydropower for its mining fleet, Trojan Mining is expanding its setup to accommodate the newly unveiled 500 KW hydro-powered facility, inclusive of its maiden locally built mining container.
By Anna B Kiwanuka
Trojan Mining, a pioneering Nigerian bitcoin mining firm, has revealed plans for a substantial 500KW hydro-powered bitcoin mining facility in Nigeria. The announcement comes amidst a surge in global bitcoin mining initiatives gearing up or expanding ahead of the anticipated bitcoin halving slated for April next year.
Historically, bitcoin mining in Nigeria has grappled with challenges ranging from regulatory uncertainties to the scarcity of suitable locations, expertise shortages, and challenging economic conditions exacerbated by inflation, leading to fluctuating local electricity and hardware costs. However, significant shifts are underway in several of these areas.
The Nigerian Federal Government’s announcement in June, under the Electricity Act, empowered state governments to independently generate electricity and manage energy infrastructure, offering greater feasibility and economic viability for establishing mining operations in regions endowed with ample energy resources.
Trojan Mining, established earlier in 2021, stands as one of Nigeria’s limited bitcoin mining entities and is affiliated with the Green Africa Mining Alliance—an association of African bitcoin miners advocating for standardized renewable energy practices in mining.
Employing hydro-power for its mining fleet, Trojan Mining is expanding its setup to accommodate the newly unveiled 500 KW hydro-powered facility, inclusive of its maiden locally built mining container. The expansion initiative will introduce 150 additional ASICs (Application-Specific Integrated Circuits) in the upcoming months, entailing necessary electrical, hardware, and software upgrades, including a dedicated transformer installation.
CEO Yassar Siyanbola outlined their strategy, emphasizing, “Our approach revolves around harnessing green energy sources and collaborating with industry experts in the bitcoin mining domain.”
Siyanbola acknowledged the pivotal role of Gridless in offering crucial guidance and assistance throughout the facility’s development, with Texan bitcoin mining veteran Marshall Long extending support and expertise along the way.
As Siyanbola revealed, the hydro-powered facility marks the first of two planned endeavors. The subsequent facility, a 1MW capacity establishment, is slated to be situated near their current operations, envisioned to materialize over the coming months with support from external partners outside Nigeria, possessing mining expertise and ASIC supplies. Siyanbola added, “Trojan Mining’s ambition is to emerge as Nigeria’s premier Bitcoin mining farm.”
Moreover, leveraging its location in Nigeria, Trojan aims to engage local youth, providing education about bitcoin mining and opportunities for direct involvement, including employment, thereby contributing positively to the community.
Trojan’s recent facility launch and outlined plans underscore the increasing role of African miners in steering the Bitcoin mining sector toward a more sustainable future.
Looking ahead, anticipations arise for a surge in mining projects across Nigeria in 2024, with rising investor confidence in supporting mining ventures within the country. Concurrently, local miners are refining their expertise and understanding of pertinent factors, signaling an evolution in Nigerian Bitcoin mining practices.