Massena, New York is home to one of the top crypto mining data centers in the world. The capacity of this site is enormous with 435-megawatts of power. The site is whopping 1300-acres.
The North Country Data Center Corporation has a subsidiary, Coinmint. They claim it is intended to be used to mine several digital currencies. Among these are the major currencies Bitcoin, Dash, and Ethereum.
It is claimed that the basis of the move was the citizens of the area and the benefits of hydroelectric power. The expansion will continue as this form of power is important to the infrastructure of data centers.
Kyle Carlton who is a spokesman for Coinmint explained that the reduction in electricity costs will allow the company to be a strong global competitor in the newly emerging digital currency market.
This company has already invested a lot of money into the crypto mining farm data center. The total is roughly around $50 million. It is expected to put another $700 million towards the data center within the next 18 months. It is estimated that this will allow more than 150 jobs to be created.
The goal of Coinmint is to offer investers who are qualified to be given an opportunity to act in the ever-growing world of digital currency. They claim that they can be around three times bigger than their competitors in the industry.
This company has become partners with the Alcoa East Facility complex for its cheap electricity and proximity to Albany NY. The mining company believes this to be a huge advantage for the company.
Steve O’Shaughnessy, the Massena Town Supervisor strongly believes that they have been working for an increase of jobs in the Alcoa East Facility and that the overall project holds strong potential.
China has had a hostile approach towards cryptos in general, as well as crypto-mining. In a way, America has become a more popular destination for miners like Texas. The effect of this has been an increasing demand for more and more energy to secure the bitcoin network, ethereum’s network, among other digital currency competitors.
There has been much controversy over how support to them has been the topic of debate for locals across the U.S. Fortunately, they can often bring jobs and a large investment. This is due to the need to hire many to work on the factory floor as well as others who complete the necessary designs, manufacturing, storing and shipping of crypto mining hardware.
Some towns are welcoming them with full acceptance, while others debate whether a potential increase in overall electricity costs would be worth the investment.