Cryptocurrencies, Energy, Financial Services, Forum, Lithuania
International Internet Magazine. Baltic States news & analytics
Saturday, 20.04.2024, 10:36
Lithuanians have an idea how to reduce crypto mining costs
The
suggested platform model in each case would enable to find the most suitable
place in the world to install computer equipment and to organize cryptocurrency
mining for the lowest energy price on that date.
During the
all-day long Smart Energy Hackathon, more than 35 energy, IT specialists,
marketing, sale professionals, project management specialists, business
developers, and managers of companies competed. In 24 hours, six teams solved
energy challenges ranging from digitization of the electricity grid, use of Big Data to the involvement of customers
into the electricity market
“Huge
changes are coming to the energy sector and those who will succeed in using them
in the right way, will create value for both oneself and own country. One of
the main elements of our new strategy LE 2030 is digitization. This includes an
understanding that we have a unique chance upon turning by traditional energy into
global and smart to become leaders not only in the local market, but also in
the world. This hackathon initiative contributes to the development of the
innovation space created by Lietuvos Energija and attraction of talents. Today,
we create the most innovative energy distribution grid in Lithuania which, I
believe, will be opened for interested ideas creating new businesses with a
potential to expand into global markets,” told Mr. Darius Maikštėnas, CEO of
Lietuvos Energija.
The
solution to create conditions and possibilities to connect into one platform
those who could offer premises and the necessary amount of energy for the best
price at the particular moment was selected the best hackathon idea. This would
be relevant for cryptocurrency miners and after it would be attractive also for
the electric car markets. The platform would enable to choose in what country
and for what price the customer will use electric power.
Also, the
most innovative and best visionary ideas of Smart Energy Hackathon received
awards. The solution intended for the search of defects using special equipment
in the electricity grid was recognized as most innovative. The idea offered
using an exchange platform of energy market participants willing to produce and
acquire energy was recognized as best visionary idea.
“Hackathons
are a modern tool helping to find creative people, join them into teams and
encourage them to create innovative products or services. I see a great
perspective for corporate hackathons that could help to create new services in
companies, optimize costs, and digitize the market,” told Mr. Marius Pareščius, one of the hackathon
mentors.