A new mining center of Bitcoin (BTC) will soon be installed in South Carolina. It is under the initiative of Greenidge Generation that the city will be gratified by this new installation that already delights thousands of cryptocurrency users.
Operator, but not owner
July 2, Greenidge Generation published information that it would create a new mining operation of Bitcoin (BTC) in South Carolina, specifically Spartanburg. According to the online media The Block, the firm expects that the center will be functional between the end of the year and the early 2022.
The company does not plan to carry out this project on its own. She partnered with LSC Communication who benefited from the investments Atlas Holdings ‘ s. Other information, the new infrastructure will have a particularity : it will not be the property of Greenidge Generation. Unlike its first BTC mining center based in New York, here the company will have a right to operate for 10 years, without owning the location.
What is the budget for the new infrastructure ? No response from company officials. However, we have information about the impact this project will have on the Dresden plant. An official of the firm announced : “Our operations in Dresden, where we continue to supply electricity to the grid and where we have a fully carbon neutral bitcoin mining operation, are not impacted by this announcement”.
Let’s go back to LSC Communication. Its mining center used to consume 80 megawatts of electricity. But the company plans to increase this capacity. In March, the Dresden plant used 15 megawatts to extract the equivalent of $ 50,000 of BTC.
The new eldorado would be found
A few months ago, Greenidge Generation has been at the center of controversy, as it is considered the best known of the BTC extraction facilities in Upstate New York. Earlier in the year, the New York authorities had indexed him in an investigation.
According to many hypotheses, New York could become the next eldorado cryptocurrency miners due to strong crackdown in China. At the same time, however, several US authorities have made stronger the provisions that companies must comply with. mining. Moreover, in the future, new measures could be taken to reduce energy consumption during mining operations.
Greenidge Generation currently makes rain and good weather in the United States. Indeed, the firm recently announced its plans to create a new BTC mining operation that will be based in South Carolina. Important detail, it will not own it, but it will benefit from an operating lease that extends over 10 years.
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The comments and opinions expressed in this article are solely those of the author and should not be considered as investment advice. Do your own research before making any investment decisions.
