- Mining farms will go to Washington
- Cheap electricity is not the main factor in profitable mining
Washington prepares for invasion miners
Washington authorities expect an influx of miners in the spring of 2021
Cheap electricity doesn’t guarantee mining profit
USA is one of the three countries in the world for the development of bitcoin mining
International consortium news organizations, developing standards transparency.
Three counties of Washington at once may become a new oasis for miners. The authorities expect that already this spring, dozens of new mining farms.
Mining farms will go to Washington
Public Service Districts (PUDs) in Chelan, Douglas and Grant counties expect an influx of new miners this spring of the year. Growth bitcoin prices stimulate miners to increase computing power and deploy new industrial mining farms.
A similar trend was already observed in these areas in 2017. When bitcoin rose in price to $ 20,000, miners massively opened farms near the Columbia River basin. IN this district they are attracted by super-cheap electricity, which produce five large hydroelectric power plants in the basin. Household consumers pay Total 2.33 cents per kilowatt-hour, up from about 12 cents in Seattle. The national average electricity costs 13.6 cents.
The authorities do not exclude that some of the Chinese miners will move to Washington. Celestial government imposes restrictions on cheap electricity for miners, themes most forcing them to look for other locations for farms.
Until Chelan, Douglas and Grant counties have seen increased activity large miners, but small farms grow like mushrooms after rain. The authorities of the municipality do not mind Togo, so that similar production capacities are created in the region, but they warn miners in advance that electricity tariffs for them will be increased. TO example, in Grant County electricity costs for miners will be automatically increase in two times, if they will consume from 5% and above district electricity.
Cheap electricity is not the main factor in profitable mining
While PUD authorities are calculating the possible profit from the operation of large mining farms, miners are in no hurry to expand their production capacity. They are explain that the key factor for profitable mining remains course bitcoin.
“More Total we are concerned that company comes on market, we build for they have a 50 megawatt data center, bitcoin prices change and then they just go away, ”says John Stoll, Managing Director of Customer Service at Chelan County PUD.
Also, the third halving bitcoin, which took place in may 2020 years, complicated the calculation mechanism for generating blocks. To mine bitcoin on an industrial scale, miners must purchase expensive hardware.
“In order to mine bitcoins profitably, Today you need at least 4000 servers and an investment of 15 million dollars”, – stated Malachi Salsido, the largest mining farm operator in the pool.
The Salcido company uses 35 megawatts to operate about 20 000 servers and generates about three bitcoins per day.
Note that today the United States is one of the three leading countries in the world in the development of bitcoin mining. A leader in this sector remains China, second place is shared by Canada and USA, and the third place is taken by Kazakhstan and Russia.
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