Enel Won't Sell Power for Cryptocurrency Mining
February 01 2018 - 7:16AM
Dow Jones News
By Alberto Delclaux
Enel SpA (ENEL.MI) said Thursday that it doesn't plan to sell
power from its renewable energy plants to Swiss cryptocurrency
company Envion AG, in response to a press report.
"After a period of careful study and analysis Enel has come to
the conclusion that it has no interest whatsoever in selling power
for the purpose of mining cryptocurrencies," Enel said. The company
said that the intensive use of energy dedicated to cryptocurrency
mining is an "unsustainable practice" that doesn't fit with its
business model.
Bloomberg had reported earlier this week that Enel was in talks
with Envion to sell it power, citing unnamed sources.
Write to Alberto Delclaux at alberto.delclaux@dowjones.com
(END) Dow Jones Newswires
February 01, 2018 07:01 ET (12:01 GMT)
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