The power stations around New York use their own advantages for mining Bitcoin
With the revival of the virtual currency market, the mining industry has once again become active, but nowadays the basic participation in mining is that professional miners, rarely have amateur players to participate.
The main reason is that the highest mining cost is electricity costs. Only professional mine owners can contract for power stations or negotiate to obtain a price advantage before they can make a profit.
In other words, the power station is actually a middleman in the entire mining process. If you want to maximize the benefits of mining, you need to bypass the middleman directly.
However, it has never been expected that power stations as middlemen will also participate in the mining industry. For these power stations, there is no middleman to use their own advantages to participate in mining.
A mining broker in New York State has turned into a professional mine owner. At the same time, this professional mine owner has a powerful resource of up to 106 megawatts.
The reason for having such a wealth of power resources is that this professional mine owner is actually a power station. They also invest in virtual currencies while selling power resources.
“Bitcoin vs. Ethereum”by QuoteInspector is licensed under CC BY-ND 2.0
The power station, called Greenidge, relies on natural gas for power generation. Based on commercial interests, they thought of investing in virtual currency mining Bitcoin.
Power resources are self-produced and sold, so they don’t have to purchase expensive electricity. Greenidge has deployed more than 7,000 bitcoin miners to mine day and night.
It is reported that this power station produces an average of 5.5 bitcoins per day and 165 bitcoins per month, which is approximately $50,000 in crypto per day at current market prices. For review, investment in cryptocurrency, cryptohead.io covers a lot of topics.
The investment in Bitcoin mining machines is purely based on the interests of this power station because they believe that the mining revenue will be relatively higher in the case of abundant power resources.
This power station mainly uses natural gas for power generation and does not use renewable resources, but natural gas emits very few pollutants and is therefore counted as clean energy.
Its chief financial officer believes that rich revenue channels will help the development of this power station, so invest in the mining industry as an attempt to change the original single source of income.
If the development is smooth, they may continue to increase the number of mining machines, and strive to increase mining revenue to change the income situation while ensuring a stable external power supply.
Via: TechSpot
