ATLANTA--(BUSINESS WIRE)--Dec 2, 2024--
Volato Group, Inc. (NYSE American: SOAR), a leader in private aviation innovation, announces a new patent-pending technology that advances how aircraft generate revenue by repurposing underutilized aircraft resources for cryptocurrency mining. First filed in 2023, this innovation has already benefited from significant Bitcoin price appreciation, reinforcing its potential to turn aviation’s untapped resources into valuable digital assets.
By default, the system operates using excess electricity generated during normal flight operations, ensuring seamless integration with no additional costs or resource demands. However, the system is designed to dynamically scale up and utilize additional onboard electricity when spoiled capacity—such as unoccupied seats or unused cargo space—occurs. This flexibility allows operators to transform inefficiencies into valuable Bitcoin assets, maximizing revenue potential while maintaining operational integrity.
Bitcoin Mining Tailored for Aviation
At the heart of Volato’s invention is its patented use of specialty mining hardware, optimized to achieve peak performance at high altitudes. By operating in the cool and energy-rich environment of cruising aircraft, the system delivers superior efficiency compared to ground-based mining setups. Aircraft operators can seamlessly integrate this technology into standard operations, turning inefficiencies into opportunities without impacting the aircraft’s primary function.
“Our technology secures a future where aircraft don’t just move people or goods—they actively create value through advanced computing,” said Matt Liotta, CEO of Volato. “As Bitcoin adoption continues to accelerate, this innovation ensures that aviation can participate in its evolution while leveraging its unique operating environment.”
Sustainability Meets Profitability
Volato’s patent-pending system aligns with aviation’s growing focus on sustainability. The revenue generated from Bitcoin mining can support the purchase of Sustainable Aviation Fuel (SAF) or fund carbon offset programs, offering a pathway to enhance profitability while reducing environmental impact. This dual benefit positions Volato’s technology as an attractive tool for forward-thinking aircraft operators.
Opportunities for Partners
Volato is actively seeking partners across the aviation and cryptocurrency sectors to refine and scale this innovation. Partnership opportunities include validating operational performance, tailoring the system for specific fleet needs, and exploring broader applications beyond Bitcoin mining.
“Collaboration will be key to unlocking the full potential of this invention,” Liotta added. “We welcome partners who see the opportunity to shape the future of aviation and cryptocurrency together.”
Broad Applications Across Aviation
This technology is versatile, with applications ranging from private aviation to commercial and cargo operations. Whether deployed on a smaller jet or a large transport aircraft, the system adapts to maximize value generation in every flight scenario. The commercial aviation sector alone, with a Total Addressable Market (TAM) of approximately 25,600 aircraft, demonstrates the immense scalability of the system.
Volato’s patent-pending innovation transforms aviation into a platform for advanced computing, providing a new layer of financial optimization. With Bitcoin’s significant price appreciation over the past year and its long-term potential, this technology offers a unique way to capitalize on underutilized resources. By turning inefficiencies into Bitcoin assets, Volato is positioning aviation to lead in the next wave of cryptocurrency innovation.
About Volato
Volato (NYSE American: SOAR) is a private aviation company advancing the industry with innovative solutions in aviation software and on-demand flight access. Volato’s proprietary Mission Control software drives efficiency across operations and supports operators in managing fractional ownership, charter, and other services. Volato’s Vaunt platform connects travelers with available private flights, offering a flexible option for on-demand travel. With a commitment to advanced technology and customer-focused solutions, Volato is building scalable tools to elevate service quality and operational effectiveness in private aviation.
For more information about Volato, please visit www.flyvolato.com.
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KEYWORD: UNITED STATES NORTH AMERICA GEORGIA
INDUSTRY KEYWORD: SOFTWARE PROFESSIONAL SERVICES DATA MANAGEMENT OTHER TRAVEL TECHNOLOGY DIGITAL CASH MANAGEMENT/DIGITAL ASSETS TRAVEL CRYPTOCURRENCY AIR TRANSPORT AEROSPACE MANUFACTURING
SOURCE: Volato Group, Inc.
Copyright Business Wire 2024.
PUB: 12/02/2024 04:00 PM/DISC: 12/02/2024 04:03 PM
http://www.businesswire.com/news/home/20241202589135/en
