Summary:
Volato unveils patent-pending technology for aircraft cryptocurrency mining.
Utilizes excess electricity during flights to mine Bitcoin.
The technology offers superior efficiency compared to ground mining setups.
Revenue from mining can fund Sustainable Aviation Fuel and carbon offset programs.
Volato seeks partnerships to scale and refine its innovative system.
Former fractional and jet card private jet operator Volato has unveiled patent-pending technology that aims to revolutionize how aircraft generate revenue by repurposing underutilized aircraft resources for cryptocurrency mining. This innovation has already shown significant potential due to Bitcoin's price appreciation, turning aviation's untapped resources into valuable digital assets.
Innovative Technology
The system operates using excess electricity generated during normal flight operations, ensuring a seamless integration with no additional costs. It can dynamically scale to utilize extra onboard electricity when there are unoccupied seats or unused cargo space, transforming inefficiencies into valuable Bitcoin assets.
Volato claims that its technology uses specialty mining hardware optimized for high altitudes, delivering superior efficiency compared to ground-based setups. This innovation allows aircraft operators to integrate the technology into their standard operations, maximizing revenue potential while maintaining operational integrity.
Sustainable Aviation
The company highlights that revenue from Bitcoin mining can support the purchase of Sustainable Aviation Fuel or fund carbon offset programs, enhancing profitability while minimizing environmental impact. Volato is actively seeking partners across the aviation and cryptocurrency sectors to refine and scale this innovation.
Future Prospects
As of recent reports, about one-third of Volato’s jet card customers are still seeking refunds after the company exited the fractional jet space. Despite this, Volato aims to continue as a technology provider and adapt its offerings across various aviation sectors, from private jets to cargo operations. Following the announcement, the price of SOAR shares rose significantly, reflecting market interest in this groundbreaking technology.
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