MENU × BUSINESS
Banking And InsuranceCryptocurrencyDigital MarketingErpFood And BeveragesHealthcareLegalMarketing And AdvertisingMedia And EntertainmentMetals And MiningOil And GasRetailTelecom
TECHNOLOGY
Artificial IntelligenceBig DataCloudCyber SecurityE CommerceEducationGaming And VfxIT ServiceMobileNetworkingSAPScience And TechnologySecuritySoftwareStorage
PLATFORM
CiscoDatabaseGoogleIBMJuniperM2MMicrosoftOracleOracleRed Hat
LEADERSHIP
CEO ReviewCompany Review
MAGAZINE
ASIA INDIA
STARTUPS CLIENT SPEAK CONTACT US

The Silicon Review Asia

Proposed Mining Facility: Coinmint Wants to Open the Largest Crypto Mining Facility in the USA

Proposed Mining Facility: Coinmint Wants to Open the Largest Crypto Mining Facility in the USA

The USA based cloud mining provider, Coinmint has confirmed that it will go ahead with its proposed plan to open a cryptocurrency mining plant at its newest crypto mining facility in Massena, New York.

According to Coinmint, the decision was approved in February this year with an investment of $700 million. And now, the company is looking forward to turning the 435-megawatt site into the biggest cryptocurrency mining plant in the globe.

The mining site was previously owned by Alcoa (a former aluminum smelting plant) with an area of 1,300-acre. Currently, Coinmint operates under its own subsidiary, North Country Data Center Corporation which has already mined various cryptocurrencies like Bitcoin, dash, and ether.

“We in Massena, would like to welcome Coinmint to our town,” said Steve O Shaughnessy, Massena Town Supervisor. “The thought of 150 jobs and revitalization of the Alcoa East Facility is exciting and what we have been working for. We are ready to provide any assistance we can to move this project to its full potential.”

Coinmint believes that this move may transform the cryptocurrency in a positive manner.

“Current Bitcoin prices affect the value proposition. That being, we are very comfortable with current metrics, given our technology and infrastructure,” said, Prieur Leary, CTO of Coinmint.

YOU MAY ALSO LIKE

Tariff plans will cost higher from the next financial year as telecom companies are gearing up to increase rates

The ongoing Covid pandemic had significantly increased the number of mobile and internet users worldwide. The high amount of usage is expected to drop...

Business Travelers to Stay at Singapore’s Changi Airport Bubble

Singapore’s open economy depends heavily on tourism and business. But its vibrant but small economy has been hurting as the circumstances due to...

Countries in Asia-Pacific are marching towards ‘green recovery’ amidst Covid-19 crisis

2020 has been an unforgettable year for many of us. The ongoing Covid crisis has reminded people that it is very important to have an uninterrupted an...

Department of Telecommunication to announce the new schedule for 5G trials

Department of Telecommunications (DoT) is all set to announce the new schedule for 5G trials. The Dot made this decision after being pulled by the par...

RECOMMENDED