Town Archives -
Cape Town’s water situation is dire , but although it may soon be the first big city in the world to run out of H2O, it’s not the only one nearing such a precarious position. The BBC takes a look at other major urban areas thirsting for liquid sustenance, citing a…
Williamson, W.Va., is home to 2,900 people. That’s one reason congressional investigators are flabbergasted by documents showing two local pharmacies received 20.8 million prescription painkillers from out-of-state drug companies over a decade, reports the Charleston Gazette-Mail . Ohio-based wholesaler Miami-Luken says it supplied 6.4 million hydrocodone and…
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?
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
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
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The post Small Washington Town is Becoming a Bitcoin Mining Epicenter appeared first on Bitcoin News.
Authorities in Leonia, New Jersey, are so tired of out-of-town drivers clogging their streets during rush hour that they’re taking what even the police chief acknowledges is “extreme” action: They’re outlawing out-of-town drivers at crunch time. Soon, anyone not from Leonia caught driving there between 6 and 10am and 4…
Justin Bieber and Selena Gomez look bundled up for a trip … hinting they’re going someplace where they’ll need to cuddle up next to the fire together. The couple were spotted at an airport in Van Nuys, CA Saturday as they headed to their private…
High school seniors already thinking about what college they want to attend next September might get some help from WalletHub . Evaluating wallet friendliness (e.g., student debt, cost of living), social environment (students per capita, nightlife, crime), and academic and economic opportunities (quality of education, unemployment), the site has come…
In a place where political contests are virtually unknown, campaign signs offer the latest hint that a polygamous group is losing its grip on a remote community on the Utah-Arizona border. “For Hildale mayor vote Donia,” reads a sign featuring Donia Jessop, a candidate pictured with a contemporary hairdo and…
Cut loose! New York City lawmakers voted Tuesday to legalize dancing in bars, repealing a 91-year-old law that banned boogieing at most city nightspots, the AP reports. The anti-dancing law was first enacted in 1926 and prohibited dancing in bars and restaurants that don’t have a cabaret license. Critics said…