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

The Satoshi Revolution – Chapter 5: ICOs

The Satoshi Revolution: A Revolution of Rising Expectations. Section 2 : The Moral Imperative of Privacy Chapter 5: Implementing Crypto Privacy by Wendy McElroy ICOs: Peril or Menace or Expression of Satoshi Spirit? (Chapter 5, Part 2) It was the best of times, it was the worst of times, it was the age of wisdom, it was the age of foolishness, it was the epoch of belief, it was the epoch of incredulity, it was the season of Light, it was the season of Darkness, it was the spring of hope, it was the winter of despair, we had nothing before us, we were all going direct to Heaven, we were all going direct the other way… – Charles Dickens, A Tale of Two Cities Crypto advocates differ dramatically on the impact of Initial Coin Offerings (ICOs). They are a valuable dynamic that financed Ethereum’s smart contract; they are a blank cheque for scammers; they give government a wedge with which to separate cryptocurrency from freedom. The damnable thing is that all the assessments may...
Post a Comment
Read more