According to CryptoPotato, Gabbani, a hotel company based in Lugano, Switzerland, has announced plans to mine Bitcoin using excess energy from its food production facility. The initiative aims to strengthen Lugano's position as a leading European blockchain hub. Tether, a stablecoin issuing company, revealed that Gabbani will install a Bitcoin mining system in its food production facility to utilize excess energy amid rising electricity costs in Europe.
In addition to using excess energy from food production, Gabbani is launching 'The Banettone,' a product supporting Lugano's Plan B project. Plan B is a joint initiative between Lugano and Tether to use Bitcoin technology as the foundation for modifying the city's financial structure. Gabbani's food facility, which produces Banettone and other products, recently underwent upgrades, including the installation of a 100,000 KW solar system. These developments aim to increase the company's energy independence and sustainability while providing extra energy for Bitcoin mining operations.
Lugano's Plan B project seeks to accelerate the impact of blockchain and Bitcoin in all aspects of daily life for its residents. The city plans to extend the technology to small transactions between local merchants and larger financial exchanges, such as tax payments. The Lugano Bitcoin initiative has attracted companies like ACME, which specializes in Bitcoin mining and renewable energy, to partner with Gabbani by contributing research and development expertise. ACME has provided Gabbani with a Bitcoin mining system to ensure the project's success. Lugano has become one of the leading European blockchain hubs after creating a long-term adoption blueprint for the technology. The city has recognized Bitcoin, Tether, and LVGA as legal tender, making them acceptable forms of payment for taxes and public services.
