Jack Dorsey’s Block backs bitcoin mining company that wants to bring 25-cent electricity to rural Africa
The three co-founders of Gridless at one of their mining sites in Kenya.
Erik Hersman
ACCRA, GHANA — Up until February, Janet Maingi didn’t think much about bitcoin. Born and raised in the Kenyan capital of Nairobi, Maingi had instead spent more than twenty years focused on trying to solve one of Africa’s biggest problems: connectivity. To that end, she spent more than 20 years working in operations in the telecom industry, in companies specializing in internet and wireless networks to cable and satellite television. But earlier this year, the 45-year-old mother decided to take on the continent’s second-biggest issue: Its energy problem.
Africa is a renewable energy mecca. There’s an estimated 10 terawatts of solar capacity, 350 gigawatts of hydro, and another 110 gigawatts of wind, according to data from Energy, Capital & Power, an investment platform focused on Africa’s energy sector.
Some of this renewable energy is being harnessed already, but a lot of it isn’t, because it is expensive to build the kind of specialized infrastructure necessary to capture it. Even though Africa boasts 60% of the best solar resources globally, the continent only has 1% installed solar PV capacity, according to the International Energy Agency.
“When you sit back and look at rural Africa and rural Kenya, one of the things that is very prevalent in the homes — I am talking about the 50% that are not electrified — is children have to do their assignments using either paraffin lamps or candles,” Maingi told CNBC on the sidelines of the Africa Bitcoin Conference in Accra.
“Think of their eyesight, think of their health,” she said.
Gridless
Maingi was frustrated by the divide between generation and capacity, given that 43% of Africa’s population, or 600 million people, lack access to electricity. So in February, she began spitballing creative solutions with two friends, and the three of them landed on a sort-of counterintuitive idea: bitcoin mining.
Mining for the world’s biggest cryptocurrency is a process known as proof-of-work. Miners around the world run high-powered computers that collectively validate transactions and simultaneously create new tokens. The process requires a lot of electricity, and because this is the only variable cost in a low-margin industry, miners tend to seek out the world’s lowest-cost sources of power.
Philip Walton, Gridless co-founder and CFO, setting up a mini grid hydro site to mine with 20 kilowatts of power in Kenya.
Erik Hersman
Bitcoin gets a bad rap for the amount of energy it consumes, but it can also help to unlock these trapped renewable sources of energy. Bitcoin miners are essentially energy buyers, and when they co-locate with renewables, it creates a financial incentive for buildout and improves the core economics of renewable power production. The IEA says that in rural areas “where over 80% of the electricity-deprived live, mini-grids and stand-alone systems, mostly solar based, are the most viable solutions.”
By May, Maingi and her two colleagues decided to try it out. They founded a venture called Gridless to see whether the additional demand of bitcoin miners on these semi-stranded assets could make renewables in Africa economically viable — and crucially, whether the additional source of energy could power communities previously out of reach of microgrids that electrify parts of Africa.
Gridless also has plans to expand into other parts of Africa with the help of a fresh injection of cash.
Jack Dorsey’s digital payments firm Block and Alyse Killeen’s bitcoin-focused venture firm Stillmark, have led a $2 million seed investment into the company, which Gridless says it plans to use to open new mines.
Maingi is the chief operations officer, and her two friends turned co-founders, chief executive Erik Hersman, and chief financial officer Philip Walton, have spent the last several months launching pilots across Kenya in which they work with mini-grid hydro and solar generators to use their excess capacity to mine.
“We had spent years building internet connectivity infrastructure in rural and urban Africa, and realized that you cannot have a 21st-century economy without both power and connectivity together,” Hersman told CNBC.
The new 533 kilowatt site in Kenya where 300 kilowatts will be used for bitcoin mining.
Erik Hersman
“As we looked at the next problem to solve, we realized that bitcoin mining solved a major problem for renewable mini grid energy developers, in that we could be their industrial off-taker for stranded power, no matter where they were located, thereby making them more sustainable and increasing electrification across Africa,” continued Hersman.
Gridless currently has three operational pilot sites in Murang’a, a rural town that’s a 90-minute drive northeast of Nairobi. Each mine runs on hydroelectric power from HydroBox, an energy company based on the continent. Two of the mines have about 50 kilowatts of capacity, and by Thursday, the third mine will expand to 300 kilowatts.
To put those numbers into perspective, 30 kilowatts would power about 500 households. 50 kilowatts is closer to 800 households.
In January, Gridless plans to launch another 50-kilowatt hydromine in Malawi and its first solar-powered site in West Africa that will have a 30 kilowatt capacity.
Lowering energy costs
So far, the economics make a lot of sense for everyone involved. Gridless serves as a sort of anchor tenant. The company finances construction and manages the operation of data centers in rural communities where traditional industrial or commercial customers are not available, according to a company statement released Tuesday.
Gridless launching a new solar-powered mine in January 2023 in West Africa.
Erik Hersman
Because the power supplier benefits from selling energy that previously had been discarded, the energy plants will sometimes lower costs for the end user. At one of their pilot sites in Kenya, for example, the hydro plant dropped the price of power from 35 cents per kilowatt hour to 25 cents.
The buildout of capacity is also electrifying households. Gridless says they’ve already seen this translate to containerized cold storage for local farmers, battery charging stations for electric motorcycles and public WiFi points.
Once those types of needs are met, Gridless said in a statement that the remaining electricity capacity is used to power the bitcoin mine.
“Bitcoin and mining is really the tool. We’re not doing bitcoin for bitcoin,” said the lead for bitcoin mining and wallet at Block, Thomas Templeton. “The whole objective is really to empower these villages. Bitcoin is a means to that end.”
Block previously announced in April it would be teaming up with Blockstream to break ground on a solar- and battery-powered bitcoin mine in Texas that uses solar and storage technology from Tesla.
Block is also working on a project to make bitcoin mining more distributed and efficient.
Making the mining process more accessible has to do with more than just creating new bitcoin, according to Templeton. Instead, he says the company sees it as a long-term need for a future that is fully decentralized and permissionless.
The company is solving one major barrier to entry: Mining rigs are hard to find, expensive and delivery can be unpredictable. Block says it is looking into making a new ASIC, which is the specialized gear used to mine bitcoin.
Democratizing access to the mining process is big for Block. Right now, Africa accounts for around 0.2% of the global bitcoin hashrate (an industry term used to describe the collective computing power of the entire network), according to the Cambridge Centre for Alternative Finance. The bulk sum of the hashpower shifted from China to the U.S. over the last 18 months after Beijing banned crypto mining. Many in the industry tell CNBC that this kind of centralization is a problem.
“Decentralized mining is essential for the resiliency of bitcoin,” said Templeton, who added that Block kicked off its mining initiative to make mining more accessible, user-friendly and reliable, so that more people can mine.
It was a sentiment echoed by Dorsey in Accra on Tuesday morning. The Block CEO, who said he still plans to move to Africa for six months, added that Block wants to partner with other companies on the continent to make it easier to onboard people into bitcoin.
“We’re working on a hardware miner to make it more, hopefully, accessible and more efficient for people around the world and especially on the continent to participate in securing the network and making it even more resilient in the form of something that’s also useful for other things, not just mining.”
Supporting the rise of bitcoin mining across Africa also translates to another big goal for Block: Helping to accelerate global renewable hashrate.
“Gridless represents a close strategic alignment with our vision of ensuring the bitcoin network increasingly leverages clean energy, in combination with bitcoin computational centers around the world,” said Templeton.
Electric vehicles’ share of the market continues to climb in America’s second city, with BEV registrations up more than 50% in the first quarter of 2025 compared with the same period last year. Great news, but charging hasn’t up – but a new plan from Chicago Department of Transportation aims to build up enough infrastructure for the city to keep up.
In a bid to keep up with the rapid growth of EVs, Chicago Department of Transportation (CDOT is currently seeking public feedback on a plan called “Chicago Moves Electric Framework.” The city’s first such plan, it outlines initiatives that include a curbside charging pilot through the city’s utility, ComEd, and expanded charging access in key areas throughout the city.
Unlike other such plans, however, the new plan aims to focus on bringing electric vehicle charging to EIEC and low income communities, too.
“Through this framework, we are setting clear goals and identifying solutions that reflect the voices of our residents, communities, and regional partners,” said CDOT Commissioner Tom Carney. “By prioritizing equity and public input, we’re creating a roadmap for electric transportation that serves every neighborhood and helps drive down emissions across Chicago.”
Neighborhoods on the south and west sides of Chicago experience a disproportionate amount of air pollution and diesel emissions, largely due to vehicle emissions according to CDOT. Despite that, most of Chicago’s public charging stations are clustered in higher-income areas while just 7.8% are in environmental justice neighborhoods that face higher environmental burdens.
“Too often, communities facing the greatest economic and transportation barriers also experience the most air pollution,” explains Chicago Mayor Brandon Johnson. “By prioritizing investments in historically underserved areas and making clean transportation options more affordable and accessible, we can improve both mobility and public health.”
The Framework identifies other near-term policy objectives, as well – such as streamlining the EV charger installation process for businesses and residents and implementing “Low-Emission Zones” in areas disproportionately impacted by air pollution by limiting, or even restricting, access to conventional medium- and heavy-duty vehicles during peak hours.
The Chicago Moves Electric Framework includes the installation of Level 2 and DC fast charging stations in public locations such as libraries and Chicago’s Midway Airport, “supporting not only personal EVs but also electric taxis, ride-hail and commercial fleets.”
Chicago has a goal of installing 2,500 public passenger EV charging stations and electrifying the city’s entire municipal vehicle fleet by 2035.
Electrek’s Take
I hate to sound like a bed-wetting liberal here, guys, but Chicago is getting EVs absolutely right with big utility incentives on both vehicles and infrastructure, a governor willing to stand behind smart environmental policy, and a solid push for more and better infrastructure in the areas where they’ll do the most good. They’re even thinking of the children.
Here’s hoping more cities follow suit.
SOURCE: ComEd, via Smart Cities Dive; featured image by EVgo.
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With a fully-enclosed, G-Wagen-inspired body and an 80 mile electric range, the Bodo G-Wagon golf cart is the NEV you need when you decide it’s time to get serous one-upping the rest of the Palm Beach country clubbers.
If you love the look of the $230,000 Mercedes-Benz G580 off-roader, but think the 579 hp, 6,800 lb. electric 4×4 is probably overkill for occasional trips to the golf course and country club, this G-Wagen-inspired golf cart might be just what you’re looking for.
The shiny black 2024 Bodo G-Wagon sold at Mecum Auctions last month for $31,900, which seems like it might not be a lot of money to the sort of person who decides to take a flyer on a goofy, limited-use EV that ships with real, metal doors, power windows, heating and air conditioning, fully digital instrument cluster and infotainment, and a “posh,” caramel leather interior.
It even has windshield wipers, power steering, and a rear-seat entertainment system that’s built into the front headrests!
It’s really nice in there
Under the hood, the Bodo packs a 15 kW (20 hp) electric motor drawing power from a 10 kWh li-ion battery that won’t deliver a scorching 0-60 mph time (it only goes 35), but will deliver you and your buddies from one end of any golf course in North America and back several times over, thanks to the G-Wagon’s 80 mile range.
The official Mecum Auctions listing goes into a bit more detail, and I’ve included it here, in case it gets deleted after a while and you’re just finding this for the first time in 2027:
Be the envy of any country club or golf community showing up with this 2024 Bodo G-Wagon Golf Cart. Perhaps more appropriately known as an E-Wagon, this baby G-Wagon is powered by a 15kW motor with a 10kWh lithium battery. Boasting an 80-mile range and a 35 MPH top speed, the Bodo is an enclosed, luxury golf cart that pampers occupants with heating and air conditioning, rear-seat entertainment, power windows, power locks and a posh, caramel-colored interior. With the Bodo fitted with power steering and 4-wheel power disc brakes with brake boost, drivers will think they’re in a full-size G-Wagon, thanks to the multiscreen entertainment cluster, the rearview camera, windshield wipers, turn signals, running lights and so much more.
Finished in black with the right amount of brightwork, the overall vibe is one of jaw-dropping, smile-inducing fun. While the Bodo would be an excellent choice for any golf community, it should also prove to be hugely popular around a race track or car condo community as well, or maybe even a neighborhood with its own airplane runways. Over the past decade in particular, the demand for unique, luxury golf carts has been on the rise, and understandably so. The number of luxury communities with specific interests in sports, aero and auto has also been on the rise, with people buying homes in these exclusive locations to better engage with like-minded people. All too often a golf cart is the perfect way to get around these gated neighborhoods, and this one is enclosed, comes with the amenities of a full-size car and is infinitely more stylish.
You can check out a few more photos of the 2024 Bodo G-Wagon golf cart that sold at Mecum, below – and if you want one for yourself, you’re in luck! I found this brand-new 2025 “G600 E-Wagon” (in white) for $23,900 at Gulf Carts in Santa Rosa Beach, Florida. Head on down to the comments and let us know if you buy it.
G-Wagon golf cart gallery
SOURCE | LOTS MORE PHOTOS: Mecum Auctions.
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The Hyundai IONIQ 5 got a raft of upgrades and sporty, rally-focused XRT trim level for 2025 – but the biggest upgrade for the Made in America Hyundai might be this: the 5 has regained eligibility for the full $7,500 federal EV tax credit!
Despite being assembled at Hyundai’s Georgia meta plant for the last four month, the 2025 Hyundai IONIQ 5 was nowhere to be found on the EPA’s list of rebate-eligible vehicles. But that was then – with a fresh updated to the list coming online May 1st, Hyundai’s new-age electric hot hatch is back in the rebate game.
It’s worth noting that lease customers had been able to access the incentive under some circumstances, but this latest update to the EPA list makes it possible for cash and payment buyers to take advantage of the full Federal incentive, too – as long as they earn less than $300,000 as a married couple filing jointly, less than $225,000 as a head of household, or less than $150,000 as an individual.
With the $7,500 federal tax credit in the equation, you can get a new 2025 IONIQ 5 for somewhere in between $36,575 and $49,475, well under the $80,000 Federal MSRP cap.
Victory lap
As if to celebrate, Hyundai announced that it was taking on the celebrate One Lap of America road rayy and race event in a factory collaboration with the track-focused enthusiasts at Grassroots Motorsports this week with One Lap veterans Andy Hollis and Tom Suddard campaigning a stock, 601 hp 2025 Hyundai IONIQ 5 N in the Alternative Fuels class.
“After winning our class in a gutted, caged race car last year, we wanted to compete in the best-of-all worlds this year: A vehicle that’s incredibly fast, incredibly comfortable on a road trip, and incredibly capable on a racetrack,” explains Suddard. “Electrification means it’s finally possible to have huge power without huge compromises in a street car, and the IONIQ 5 N promises to pair that huge power with the durability and capability to survive a week of racing.”
One Lap is widely regarded as one of the toughest street-legal motorsports events in the world, pitting amateur and professional drivers alike compete in stock and heavily modified vehicles of every description, battling it out in a series of scored challenges, including timed events at road courses, drag strips, skid pads, and autocross courses.
In between tracks, competitors safely travel thousands of miles around the country, proving the mettle and durability of the vehicles and the teams that drive them. This year, 86 teams from all over the country will compete in 17 scored events over the course of eight days at tracks like Virginia International Raceway and NCM Motorsports Park.
The Tire Rack One Lap of America is currently underway – you can track the Hyundai’s progress here, then let us know what you think of this new tax development in the comments.
SOURCES | IMAGES: Hyundai, One Lap of America; FuelEconomy.gov.
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