NY to See BTC Mining Powered Through Hydroelectric Dam
The mining firm based in California and now operating in the state of New York has finalized renovations of a previously defunct hydroelectric dam, which they aim to use to power their upcoming mining farm, according to a statement made on Thursday.
DPW Holdings is preparing to utilize the dam and its Valatie Falls location to be the primary source of power for its still unbuilt mining factory starting before the end of this year.
New York Impact
Their initiative may indicate new competitors for New York’s increasing population of miners. The state is where Coinmint revealed that they would start their own operations inside of a now-inactive smokestack, with the help of the local community and government support early in 2018.
In the meantime, DPW’s factory will contribute its own hardware used for mining, dubbed the AntEater. The tool was produced through a partnership with Samsung at the start of the year. It is due to run the entire operation using a Super Crypto Mining, a subsidiary dedicated to the endeavour.
The company’s CEO, Milton Ault, said that the project aims to give consumers and the enterprise a new opportunity to work alongside one another and construct a plethora of new strategies for mining crypto. Since electricity and sources of power is the number one issue and cost when it coming to crypto mining, this will be an innovative step forward after the project’s launch during Q4 of this year, he added.
Multiple other US states are due to see different types of mining projects begin to mine crypto in the upcoming years. The DPW project was revealed 2 weeks following Bitmain’s announcement that they will be constructing a complex in the US state of Texas under s half-billion dollar investment.
In Canada, however, multiple potential corporations are receiving both positive and negative opinions from local communities and governments.