Gabbani, a hotel company based in Lugano, Switzerland, has unveiled an initiative to mine Bitcoin using excess energy from its food production facility. The new project is set to solidify Lugano’s status as the leading European blockchain hub.
According to an official announcement by stablecoin issuing company Tether, Gabbani will install a Bitcoin mining system in its food production facility to harness excess energy as electricity costs in Europe continue to rise.
Food Production Energy for Bitcoin Mining
Besides utilizing excess energy from food production, Gabbani is also announcing the launch of “The Banettone,” a product that will support Lugano’s Plan B project. Plan B is a joint initiative created by Lugano and Tether to leverage Bitcoin technology as the foundation to modify the city’s financial structure.
Gabbani’s food facility, which houses the production of Banettone and other products, recently underwent several upgrades, including the installation of a 100,000 KW solar system. Recent developments serve a dual purpose of increasing the company’s energy independence and sustainability and availing extra energy for Bitcoin mining operations.
“This forward-thinking approach firmly positions Gabbani as a trailblazer in its field, potentially making it the first of its kind worldwide. This fusion of high-quality food production, rooted in a tradition dating back to Domenico’s grandfather in 1937, with cutting-edge technologies, underscores Gabbani’s commitment to ensuring a sustainable future and fostering growth,” Tether said.
Lugano Embraces Bitcoin
Lugano launched Plan B to accelerate the impact of blockchain and Bitcoin in all parts of daily living for its residents. The city intends to extend the novel technology to small transactions between local merchants and larger financial exchanges like tax payments.
The Lugano Bitcoin initiative has motivated companies like ACME, which specializes in Bitcoin mining and renewable energy, to partner with Gabbani by contributing its expertise in research and development. The company has provided Gabbani with a Bitcoin mining system to ensure the new project’s success.
Meanwhile, Lugano has become one of the leading European blockchain hubs after creating a long-term adoption blueprint for the novel technology. The city has recognized Bitcoin, Tether, and LVGA as legal tender, making them acceptable forms of payment for taxes and public services.