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| January 24, 2018

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Trump says ‘Russia is not helping’ with North Korea

January 21, 2018 |

US President Donald Trump may have found another whipping boy when it comes to reining in North Korea. – RSS Channel – World


North Korea plans military parade on eve of the Olympics, diplomats say

January 20, 2018 |

The Winter Olympics opening ceremony may not be the only parade North Korea is planning on participating in next month. – RSS Channel – World

Going to North Korea? Plan Your Funeral First, Say Feds

January 20, 2018 |

Lest you think North Korea’s plans to compete on a joint Olympic team with South Korea represent a softening, the State Department’s harsh words will jolt you back to reality. Inverse reports that a new system of travel advisories launched Jan. 10, and Fox News noted the Level 4—the…


IOC makes it official: North Korea and South Korea will march together at Olympics

January 20, 2018 |

Athletes from North Korea will participate in the Winter Olympics in South Korea next month, International Olympic Committee President Thomas Bach said Saturday. – RSS Channel – World

Small Chinese Shippers From Troubled Ports Seen Aiding North Korea Trade

January 20, 2018 |

Some of the Chinese ships U.S. authorities allege have helped North Korea violate trade sanctions sailed from ports with depressed shipbuilding industries, like Linhai, where boom has turned to bust. What’s News Asia

China secretly bought North Korean coal as US watched from above: report

January 19, 2018 |

At least six cargo ships linked to China furtively violated U.N. sanctions by taking on North Korean coal late last year, potentially providing a significant financial boost to the rogue regime, the U.S. alleges.
FOX News

Six Chinese Ships Covertly Aided North Korea. The U.S. Was Watching

January 19, 2018 |

Intelligence gathered by American officials provides what they say is detailed evidence of sanctions violations, involving illicit cargo such as coal that the regime relies on for hard currency. China later successfully lobbied to have the vessels removed from a proposed United Nations blacklist. What’s News Asia

New US $65 Million Bitcoin Mining Facility is Among Largest Data Centers in North America

January 18, 2018 |

New US $  65 Million Bitcoin Mining Facility is Among Largest Data Centers in North America

Virginia Beach, Virginia isn’t exactly known as a hotbed of bitcoin mining activity, but that appears to be changing, and soon. A local company has sunk 65 million USD into a giant facility, as the resort town attempts to become a hub for data centers.

Also read: Have Lunch with Bitcoin Jesus in Paradise

65 Million USD Mining Facility is Nearly Completed

It almost wasn’t to be. Local firm Bcause, LLC was actually looking to plunk down their 65 million dollars elsewhere. And then its hometown, Virginia Beach, Virginia cut business property taxes for data centers at the end of last year, according to The Virginian-Pilot online newspaper. The city’s Director of Economic Development, Warren Harris, told the paper, “We’re poised to be a hub for data centers. To reduce that tax has put us in a very, very competitive position.”

If mining facility news seems to be saturating headlines of late, that’s for good reason. Enthusiasts in the crypto world are used to instantaneous, frictionless, easy, quick. And for the most part that’s what it is. However, in the physical world there are still a myriad of limitations when it comes to brick and mortar construction: permits, haggling with politicians over their cut, and so forth.

New US $  65mil Bitcoin Mining Facility is Among Largest Data Centers in North America

What the ecosystem witnesses now is the fruit of thousands of percent run-ups in bitcoin prices last year. So even though its price might’ve shaved much of those gains down, decisions were made back then which result in concrete being poured now.

Virginia Beach, Virginia rests on the southeast coast of the state, and it is cooled by the Chesapeake Bay and the Atlantic Ocean; it can also get quite hot and humid in the Summer – a climate fact usually making mining operations less hospitable. It’s home to religionists such as Pat Robertson’s CBN television outfit, but makes room for paranormal advocate Edgar Cayce and his devotees. It’s also a place filled with history, as its Cape Henry hosted the first English colonists to arrive.

New US $  65mil Bitcoin Mining Facility is Among Largest Data Centers in North America

Public-Private Partnership

The city is once again hoping to make history some four centuries later. It awarded Bcause “a $ 500,000 grant for the expansion. The company will add 100 full-time employees with an average annual salary of $ 60,000,” the local paper reported.

Bcause LLC, only five years old, has a pretty great grasp of what bitcoin means. Its founder, Tom Flake, makes an elevator pitch for why the world’s most popular cryptocurrency matters (see video below). He describes it as having solved the age-old third party trust problem, which is spot-on. The data center is meant for more ordinary people to participate in bitcoin, and interestingly he mentions bitcoin cash mining as well, by way of the mining process. For under five thousand dollars a year, individuals can lease a machine. Thus, Bcause eliminates many barriers to entry for average folks in terms of machinery, noise, housing, and heat.  

According to the paper, Mr. Flake insists the facility’s 84,000 square feet of space will be the largest data center of its kind in North America.

Do you think more public/private partnerships will happen in bitcoin? Let us know in the comments section below.

Images courtesy of Pixabay.

Not up to date on the news? Listen to This Week in Bitcoina podcast updated each Friday.

The post New US $ 65 Million Bitcoin Mining Facility is Among Largest Data Centers in North America appeared first on Bitcoin News.

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North, South Korea agree to military talks

January 16, 2018 |

In a joint statement, North and South Korea have agreed to hold military talks. CNN’s Will Ripley reports. – RSS Channel – World


US and Canada will host North Korea nuclear meeting

January 16, 2018 |

The United States and Canada will co-host an international summit on the North Korean nuclear threat in Vancouver, British Columbia, on Tuesday, as tensions on the Korean Peninsula settle into a steady simmer while direct talks between the north and the south continue. – RSS Channel – World