A large crypto mining data has begun operations in Massena, New York, with a capacity of 435-megawatt on a 1300-acre site, according to trustnodes.com.
Coinmint, a wholly owned subsidiary of North Country Data Center Corporation, says it will be used to mine various digital currencies including Bitcoin, Dash, and Ethereum.
“The area’s citizens and its hydroelectric power – a green alternative to the less sustainable energies used at other digital asset infrastructure data centers – were the catalyst for our move and will be foundational assets for continued expansion.
The reduced electricity costs will enable us to compete in the rapidly emerging digital currency global marketplace,” says Kyle Carlton, a spokesman for Coinmint.
More than $50 million have already been invested on the crypto mining datacenter, with an investment of another $700 million to be invested over the next 158 months, creating an estimated 150 plus jobs vacancies according to Coinmint.
They say “Coinmint offers qualified investors an opportunity to participate in the exciting world of digital currency mining,” without providing much detail, but they claim the datacenter will be “three times larger than its closest competitor.”
Former Alcoa East Facility complex is an economically attractive place for them due to the cheap electricity with the mining company claiming that they have “a material advantage through its relationships with the New York Power Authority and the New York Independent Systems Operator.”
Steve O’ Shaughnessy, Massena Town Supervisor, welcomed the launch of the operations, saying:
“The thought of 150 jobs and revitalization of the Alcoa East Facility is exciting and what we have been working for. We are ready to provide any assistance we can to move this project to its full potential.”
America is becoming more and more an appropriate destination for miners, who need more and more energy resources to secure the stability of the Bitcoin or other cryptocurrencies’ networks.
How to accommodate them has been subject to some debate in locals across USA. However, these operations can bring jobs and significant investment, leading some towns to welcome them.