According to a report by the cloud mining service Coinmint, the company has won the approval to take over an abandoned smelter and use it for Bitcoin mining operations. The local news broadcaster WWNYTV has reported this on Thursday, along with the local government documentation, saying that lawmakers in upstate New York have just voted in favor of awarding the subsidiary named North Country Data Center (NCDC) 15 megawatts of low-cost power.
This comes as a subject to the agreement of tariffs among members, which include the New York Power Authority Board of Trustees and New York State Canal Corporation Board of Directors.
The operation will involve a $165 million investment in a proper infrastructure and will open 150 jobs. Coinmint will stabilize in the nearest town of Massena and the surrounding area. What’s interesting is that New York State was previously not known for its involvement or openness to the crypto mining (which previously belonged to the state of Washington with its cheap electricity).
As the Massena town supervisor said, “It would be good for Massena. I think they are highly technical jobs. We’re definitely going to look forward to something like that.”
This encouraging news comes after reports across the Atlantic and Europe that the major energy provider Enel refused renewable energy sales to the cryptocurrency mining operator Envion, claiming that it was an unsustainable practice.
What’s true is that this is a great allocation of power in New York, but something that comes with 150 job openings too. The bigger picture is that New York is moving towards regulations in the crypto space. So, are we about to see more from the Big Apple?
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