Skip to main content

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

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.

Comments

Post a Comment

Popular posts from this blog

MYSTERY OF BERMUDA TRIANGLE FINALLY SOLVED

MYSTERY OF BERMUDA TRIANGLE FINALLY SOLVED   17 COMMENTS    23472 VIEWS Bermuda Triangle Mystery Solved? Scientists believe they’ve solved the mystery of the Bermuda Triangle ― and it’s not UFOs or sea monsters. It’s another kind of monster: monster waves. The Bermuda Triangle, also known as the Devil’s Triangle, is a region in the North Atlantic that is generally bounded by Miami, Bermuda and Puerto Rico. Over time, a number of aircraft and ships are said to have disappeared there under mysterious circumstances. According to “The Bermuda Triangle Enigma” on Britain’s Channel 5, scientists now believe conditions in that area were just right for massive rogue waves. “There are storms to the south and north, which come together,” said University of Southampton oceanographer Simon Boxall, per the Sun. “And if there are additional ones from Florida, it can be a potentially deadly formation of rogue waves.” Boxall said these rogue waves could reach 100 fee...
Post a Comment
Read more

EZeugo Is the Right Candidate For Idemili North Constituency.

A sound mind is a healthy body, unfortunately most of our people suffer from various diseases as a result of their life style,water the drink, type of food the eat (poor dieting) and drugs abuse which in return leads to many complications in the later stages of their lives. Majority of our people over the age of fourty  suffer from specific health problems E.g heart diseases, advanced diabetes, blood pressure (BP). In my view the issue of health is not limited to health services, health is a specific culture that can be attened by harmonizing body and mind. To reach this health conditions, in addition to a good healthy services, base on my background in Health and Environmental Safety (HES) I Ezeugo have a good health investment programs that will help improve following area - health education, Custom and traditions, food and environmental hygiene, sports, provisions of safe drinking water, public awareness in various aspects of life. Ezeugo have all it take to make Idemili...
2 comments
Read more

Ezeugo For Idemili North Constituency in Anambra State House of Assembly 2019.

As a youth leader, I Ezeugo will support law that will better the Rights of women, young people (youth) and the destitute (poor). In our society, we have three numerical majorities, these three majorities include the youth, women and the poor  none of these classes are satisfied with their participation in the country economy, politics  or administration. The poor, women and youth still lack the kind of support by legislative bodies that would allow them to represent their voices and demands within the context of the of the law. Effective representation will pay a positive role in changing their living conditions and make their voices heard. For this reason Ugochukwu Ezeude - Ezeugo programs tackles various aspects and will also help fight against poverty. Together we can make it happen and better. I stand with Ezeugo for better tomorrow. I stand for the truth.
Post a Comment
Read more