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Buying cryptocurrency has just become easier for all residents of the US capital, as the American bitcoin ATM network, Coinsource, has now expanded into the Washington DC metropolitan area. With this latest installment, the company now boasts of operating almost 200 machines across the US.
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Coinsource, Texas-based bitcoin ATM network, has announced its first entry into the American capital. The company will install twenty machines across the District of Columbia and Maryland, saying it received significant demand from local users and merchants. The machines will be spread in convenient locations across the area, including a dozen in Washington DC, five in Baltimore, one in Towson, one in Oxon Hill, and one in Takoma Park.
Before this development, the city already had about five machines being serviced by five different operators. Additionally, several local restaurants, bookshops, and record shops have been accepting bitcoin as payment since last year.
“We are meeting Washington D.C. at an inflection point, where regulators are looking at the value and potential of decentralized currencies and blockchain technology,” said CEO of Coinsource Sheffield Clark. “All innovation over time has passed through our Nation’s Capital in one way or another, and we are happy to be now servicing Washington D.C. and the surrounding communities so that they can have easy access to buying and selling Bitcoin.”
The DC installation caps off a quarter of growth for the company after launching 10 machines in Rhode Island, New Hampshire, and Massachusetts in early February. Additionally, Coinsource introduced eight new machines in Denver, Colorado earlier this month. Coinsource currently has 182 machines across 18 American states, plus the District of Columbia.
CMO of Coinsource, Bobby Sharp, said, “We are expanding the Bitcoin ATM market further than it’s ever been in D.C., offering the lowest rates, exclusive remote enrollment and allowing for at-home account registration. This installment is especially significant to Coinsource, as the philosophy behind decentralized currency is and has always been about giving freedom back to the people. As a company I feel that we have been able to provide financial freedom to the underbanked and unbanked, and I am happy to bring our services to D.C.”
Which American politicians are going to be among the customers of these ATMs? Share your thoughts in the comments section below.
Images courtesy of Shutterstock.
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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.
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