An abandoned complex Intel bought for bitcoin mining

An abandoned complex Intel bought for bitcoin mining

After Quebec and new York state, the only remaining place in North America for large-scale, and most importantly, profitable bitcoin mining with the use of cheap electricity is Colorado springs.

A California startup has spent $ 13 million to turn an abandoned manufacturing facility of Intel in a huge mining farm.

The California-based company 3G Venture II, owned by John Chen from Los Angeles, purchased 30 acres and over 700,000 square feet in several buildings, of which for mining cryptocurrency will be used by three premises with a total area of 85 thousand square meters.

Michael Palmer, agent of Quantum Commercial Group, who signed the deal said that the buyer was particularly attracted by the mains, once set for the needs of Intel. The complex includes a substation directly in production, as well as two separate power source. The new owner also asked the electricity supplier company Colorado Springs Utilities, to increase the capacity for the complex.

It should be noted that cheap energy prices for a long time been attracted to this area of the company, including giants such as Progressive Insurance, FedEx and Walmart, who have created there own data centers.

Earlier this month we reported that the U.S. mining company Coinmint confirmed the opening of the world’s largest mining centre, with production capacity of 435 MW, which will be located in the state of new York.

For politicians in Massena, the city nearest to the Alcoa plant, the project Coinmint was a blessing, because it promised to create an additional 150 jobs.

However, it seems that in Colorado springs the news about the emergence of a new industry has caused less enthusiasm, as local residents and authorities do not expect the creation of a large number of jobs.

Dirk Draper (Dirk Draper), President and chief Executive officer of the chamber of Commerce of the state of Colorado said that local authorities plan to attract more such companies.

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