• Press Releases
    • Submit a press release
    • Read All
  • Advertise
  • Contact us
Crypto.com Logo Crypto.com Logo
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Play Games
  • Play Casino Games
  • Win 1 BTC
Breaking News: This Bankrupt Crypto Firm Returns 27,000 Mining Rigs To Pay Off Loan
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Play Games
  • Play Casino Games
  • Win 1 BTC
Bitcoinist.com
No Result
View All Result
Breaking News: This Bankrupt Crypto Firm Returns 27,000 Mining Rigs To Pay Off Loan
Advertisement

NY Power Authority CEO Wants to Give Cheap Electricity to Mine Bitcoin

Allen Scott by Allen Scott
5 years ago
in News, Bitcoin, Bitcoin Businesses, Bitcoin Regulation, Mining, News teaser
0
Advertisement

The New York Power Authority CEO has recommended that the organization approve a request for cheap energy towards Bitcoin mining in the town of Massena, New York.


From Smokestacks to Server Racks

The state of Washington immediately comes to mind when talking about bitcoin mining operations in the US. But New York?

Don't wait! Jump on this Crypto Deal and get a 150% Welcome Bonus plus 100 Free Spins on your deposit today!

NCDC (North Country Data Center Corp), a subsidiary of Coinmint, is planning to set up a mining center at a closed site for a traditional smokestack industry in Massena, located on the shore of the St. Lawrence River in upstate New York.

Residents of Massena see this is a positive development for their local economy as the shuttered Alcoa East smelter may now be retrofitted to host the digital mining operation.

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
570% up to 12 BTC + 300 Free Spins for new players & 1 BTC in bonuses every day, only at Wild.io. Play Now!

Steven O’Shaughnessy, the town’s supervisor, says:

It would be good for Massena, I think they are highly technical jobs. We’re definitely going to look forward to something like that.

NCDC plans to invest $165 million USD and hire up to 150 people, who will help maintain the center and oversee thousands of computer servers operating around the clock.

The company plans to hire 75 full-time employees in 2018 and 75 in 2019, for a total minimum employment force of 150 employees at the facility. The jobs would include security personnel, IT, technicians, electricians, installers, and operational staff.

NYPA President Welcomes Bitcoin Mining

But why a small town in upstate New York instead of Washington state, for example?

The answer is low-cost power.

“That’s been one of our main marketing points is that we have cheap reliable power,” explained O’Shaughnessy.

Earlier this week, the New York Power Authority (NYPA) accepted Coinmint’s request for 15 megawatts of low-cost electricity. Fortunately for the hopeful residents of Massena, President and Chief Executive Officer of the NYPA, Gil C. Quiniones, has recommended that the organization members approve the request.

Quiniones wrote:

The Vice President – Economic Development recommends that the Trustees:

(1) award or authorize an allocation of 15,000 kW of Preservation Power to North Country Data Center Corp. for the project described in this memorandum and in attached Exhibit “A”; and

(2) provide that such award/authorization will expire within one year if the Board does not approve a proposed contract for the sale of the allocation within such time period. For the reasons stated, I recommend the approval of the above-requested action by adoption of the resolution below.

NCDC says it holds a long-term lease for the Alcoa East facility. It plans to start retrofitting a building there before the end of winter and occupy six large buildings there and be in full operation by June 2019.

“This is a large allocation of power, but certainly 150 jobs is nothing to sneeze at,” said Assemblywoman Addie Jenne (D. – 116th District).

NCDC is a subsidiary of Coinmint LLC, which currently operates a facility in Plattsburgh, offering similar services. The Plattsburgh facility employs six, but is expected to eventually employ 10-15 permanent employees.

Will more states try to attract cryptocurrency miners in the future? Let us know in the comments below! 


Images courtesy of nypa.gov, Shutterstock 

ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.

Allen Scott

Allen Scott

Allen is the editor-in-chief at Bitcoinist.com. He has a background in journalism and economics and had his Bitcoin "Aha!" moment in 2013. He has interviewed some of the most prominent experts, entrepreneurs and thought-leaders within the cryptocurrency space. Send your leads, tips or interview requests to: [email protected]

Related Posts

tulip mania bitcoin

Celebrating The Tulip Mania Anniversary With Bitcoin & Crypto

8 hours ago
Bitcoin Long-Term Holders Now Hold 78% Of Supply, Highest Level Ever

Bitcoin Long-Term Holders Now Hold 78% Of Supply, Highest Level Ever

12 hours ago
Bitcoin

Why Bitcoin Is Among ‘Hottest Subjects’ On Earth, According To ‘Rich Dad’ R. Kiyosaki

14 hours ago
Bitcoin BTC BTCUSDT

Ralio Dalio Praises Bitcoin For 12 Years Of History, But Issues Warning

1 day ago
Bitcoin Mining

Bitcoin Mining Could Help Scale Solar Power, Report Reveals

1 day ago
Bitcoin Inches Closer To $24K As Fed Bares ‘Disinflationary Process’

Bitcoin Inches Closer To $24K As Fed Bares ‘Disinflationary Process’

2 days ago
Please login to join discussion

Premium Partners

Premium Casino Partners

Top Casinos

BitStarz
BitStarz
Punt Casino
Punt Casino
mBit
mBit
Metaspins
Metaspins
1xBit
1xBit
Coinplay
Coinplay
K8
K8
Vegas Casino
Vegas Casino

Sportbooks

Coinplay
Coinplay

Press Releases

  • The Three Best Cheap Cryptos To Buy Now – Snowfall...

    16 hours ago
  • Could Big Eyes Coin Bring Warmth To The Long Winter? How...

    17 hours ago
  • Cryptocurrencies That Connect With Their Community...

    17 hours ago
  • Rivalry Between Dogecoin and Shiba Inu Escalates as Big...

    17 hours ago
  • Get Rich While Gaming: RankerDAO Offers Unlimited Potential...

    19 hours ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS
  • NAGA

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

Pages

  • Contact us
  • Editorial Policy
  • Advertise
  • Crypto Prices from Nomics
© 2023 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Play Games
  • Play Casino Games
  • Win 1 BTC

© 2022 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.