An energy surplus from its food manufacturing plant will be used to mine Bitcoin, according to proposals revealed by Gabbani, a hotel chain based in Lugano, Switzerland. The project intends to enhance Lugano’s status as a significant blockchain hub in Europe. In order to make use of extra energy in the face of growing electricity prices in Europe, Gabbani will install a Bitcoin mining system in its food production facility, according to a stablecoin issuance business called Tether.
‘The Banettone,’ a product supporting Lugano’s Plan B project, is being introduced by Gabbani in addition to employing extra energy generated during food production. Together with Tether, Lugano is launching Plan B, a project that will employ Bitcoin technology to transform the financial system of the city.
Recently, renovations were made to Gabbani’s food facility, which makes Banettone and other items, including the installation of a 100,000 KW solar system. These changes are intended to boost the company’s energy sustainability and independence while supplying additional electricity for Bitcoin mining operations.
The Plan B project in Lugano aims to hasten the adoption of Bitcoin and the blockchain by locals in all facets of daily life. The technology will eventually be expanded by the city to include both smaller financial exchanges like tax payments between neighbourhood retailers. Companies like ACME, which specializes in Bitcoin mining and renewable energy, have joined up with Gabbani as part of the Lugano Bitcoin initiative by providing research and development skills.
Gabbani has received a Bitcoin mining setup from ACME to ensure the project’s success. After developing a long-term adoption strategy for the technology, Lugano has emerged as one of the key European hubs for blockchain technology. Bitcoin, Tether, and LVGA are now accepted means of payment for taxes and public services because the city has recognised them as legal tender.