News

Be aware of all developments relating to cryptocurrency, track trends and rates ups and downs, learn all about Mining and complexities of the Bitcoin system and be sure you will be aware of the most urgent and important news of World Mining company.
"The World - that is, information that grows over time."
"He who owns the information, owns the world."

Small Washington Town is Becoming a Bitcoin Mining Epicenter 

Small Washington Town is Becoming a Bitcoin Mining Epicenter Wenatchee, a small town in Washington, is emerging as a new home for bitcoin miners. The town is about three hours aways from Seattle. What is it about this rural area causing people to move there and mine cryptocurrency? Also Read: How to Dollar-Cost Average Buy and Hodl Cryptocurrency Like A Boss

Mining Boom in A Small Town

Wenatchee is home to a dozen of the largest bitcoin miners, becoming something of an epicentre. It appears a steady stream of investors are discovering the town as an optimum place to mine. Steve Wright, the head of the local power utility, says that another 75 have inquired about coming to the town: We’ve come from just a few people out there who have been knocking on the door to all of a sudden to people who are banging on the door pretty loudly. Bitcoin mining is known to be energy-consuming. But miners here appear not to have this problem. Power is extremely cheap for the town— only 2 to 3 cents per kilowatt hour. An early miner in the town, Malachi Salcido, owns three data centers in the area capable of generating 5 to 7 BTC per day. Salcido uses 7.5 megawatts of power and wants to produce 50 BTC per day by July, which would require a whopping 42 megawatts of power. The town of Wenatchee is key in his plans.

Abundant Power to Offer

Small Washington Town is Becoming a Bitcoin Mining Epicenter  Power is cheap here due to abundant hydroelectric power through a series of dams on the Columbia River. Another reason why Wenatchee is a favorite mining town is that it boasts cooler seasons to help keep the servers at the right temperature. The small town also has exceptional internet access. Steve Wright, however, is concerned that speculators might rush into the town to take advantage of everything it offers: What we don’t want is people who come here to make a quick buck off of our low-cost electricity and then leave town and leave us, and leave the people of this community holding the bag. What do you think of the mining boom? Will the small town attract more crypto investors? Leave your comments below. 
Images via Shutterstock, CNBC.com
Need to calculate your bitcoin holdings? Check our tools section. The post Small Washington Town is Becoming a Bitcoin Mining Epicenter  appeared first on Bitcoin News.

Bitgrail Exchange Ordered Down Indefinitely as Italian Court Upholds Halt
Bitgrail Exchange Ordered Down Indefinitely as Italian Court Upholds Halt

Earlier this month, Bitgrail’s principal Franceso Firano attempted to reopen the Italian cryptocurrency exchange after $170 million in losses and during their legal sorting out. An inside job or software hack, that hasn’t had an official determination, and fingers are still pointing between the exch...

27.05.2018, 07:54Read more
There’s a Bitcoin Themed Card Game On Kickstarter Called ‘Bitcon’
There’s a Bitcoin Themed Card Game On Kickstarter Called ‘Bitcon’

There’s a new card game called ‘Bitcon’ that’s been introduced on Kickstarter that allows people to experience the cryptocurrency investment fever for amusement and laughs. The strategy game was created by two cryptocurrency investors who were tired of hearing about people doing unbeliev...

27.05.2018, 03:33Read more
Project to Build Satoshi Statue Gains Support in Kiev
Project to Build Satoshi Statue Gains Support in Kiev

An initiative to erect a monument of Satoshi Nakamoto in Ukraine’s capital is gaining momentum and support. The idea is to place the statue right where the red Karelian stone figure of Lenin used to stand, before it was taken down almost five years ago. The project is said to be part of a global [&#...

26.05.2018, 23:40Read more
BountyCryptocurrencies
Video Webinars