Coinmint to set up biggest bitcoin mining hub in the world

Posted 06 June, 2018

The US crypto miner –  Coinmint – is said to invest $700 million into the former aluminium plant in Massena (north-east of the USA) striving to set up 5,200 ha bitcoin mining centre, which will become the biggest mining area in the world.

The company representative stated that the decision to locate the capacities in Massena is partly related to the fact that this region offers cheap power sources.

"The town has access to clean and cheaper power alternatives like hydroelectric and wind," he commented, "Leary pointed out that each computer used to "mine" generates 1400 watts — the same as one hairdryer. With hundreds of thousands of these hot machines operating at once, upstate New York's climate is ideal for reducing air-conditioning costs."

According to the report, the capacity of the new mining hub will be some 435 MW. The company noted that they were planning to create about 150 jobs in the town.

For now, the work on the site is underway and the facility is to reach 100% capacity within a year. The company believes this will be the largest "digital currency data processor" in the world.

Previous story

07 June, 2018 10:58

← Euro remains on the rise driven by anticipated QE exit

The euro has remained near the 2-week peaks against the majors in the second half of the week. The positive dynamics of the currency is related to possible shut down of bonds buying programme by the European Central Bank. As it was reported earlier, the senior economist at the ECB commented that the regulator was about to discuss the QE exit.

Euro remains on the rise driven by anticipated QE exit

Next story

06 June, 2018 15:34

Japanese crypto exchange faces non-certification decision of FSA →

Once the Japanese regulator – Financial Services Agency – certified and approved 16 trading platforms dealing with the cryptocurrencies, it is about to set a precedent case and reject the license for one of the exchanges. According to the news reports, the FSA has decided not to certify Yokohama-based platform – FSHO. The exchange is said to fail to provide the required trading systems.

Japanese crypto exchange faces non-certification decision of FSA
Write a comment
 
Prove you’re not a bot + 13 = 18