Reports have been made that a $700 million mining farm will be coming to upstate New York. Crypto mining firm, Coinmint, will make New York hold the record for the world’s biggest Bitcoin mining center if plans are carried out. Coinmint is a division of North Country Data Center Corporation and they have already invested $50 million into this project. They will be modifying a 1,300 acre aluminum plant that is located in Massena, NY. The plant can process 435- megawatts, and it would be considered the biggest BTC mining center in the world. Coinmint is planning to come up with a total of $700 million for this project and this will also create jobs for the next year and a half. The project and the facility will be up and running in the next 12 months. The small town is excited to have activity and new jobs. The plant will need employees on the clock 24 hours a day, 365 days a year. Staff will include electricians, IT technicians, security personnel, and operational staff. There have been struggles with finding cheaper power sources when it comes to mining. As you know, mining requires a lot of electricity, and costs can run high for mining centers. Coinmint stated that Massena has access to cost-effective power sources including hydroelectricity, which will keep mining costs down. China and Russia are known to have massive mining centers, if upstate New York wants to open the world’s largest mining center, they will have to compete with these two countries.
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