Economic Feasibility of Power Supply of Mining devices and Crypto Mining Equipment Through Solar Power Plant and Small-scale Power Plant Using a Method based on Simplex Algorithm
Nowadays, with technological advances and the increasing trend of cryptocurrency prices and its profitability, crypto mining has gained significant attention. On the other hand, since power consumption by miners is calculated based on electricity export price, their operating cost increases by the increase in foreign currency rate, which leads to less profitability of crypto mining. In this regard, using a combination of renewable power plant such as solar and small-scale power plants can reduces the operational costs and helps economic saving. In this research, simultaneous investment in solar and small-scale power plants to generate electricity demand for miner devices has been investigated. First off, a mathematical model based on the present value of capital and operational costs is presented to determine the optimal capacity of each power plant. Then, the economic feasibility has been analyzed using the net present value (NPV) method. The simultaneous construction of small-scale and solar power plants is compared with three other scenarios: construction of solar power plant, construction of small-scale power plant, and using main grid electricity. According to the obtained results, the construction of a small-scale power plant together with a solar power plant will provide the best results.
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