“Earlier this year, we started receiving inquiries from blockchain miners interested in low cost electrical capacity,” explained Aaron Tilton, CEO of Blue Castle Holdings, the determine employer of energy Block Coin, LLC.
Last year, he said this: “Not just any electrical capacity, all electricity is not created equal. Blockchain mining power has to be globally cost competitive, readily available and quickly scalable. It also has to have the right power load profile, accompanied with dependable existing infrastructure, at the appropriate locations.”
Blue Castle is a holding company in the state Utah well known for its work within the development of nuclear power plant energy. Getting into the cryptocurrency mining space was, in his own words, space “was a great fit for us, we are already doing this type of development. We are currently selling the right kind of low cost installed capacity to miners via bilateral contracts. Therefore, a good portion of the power can be put to use before our peer-to-peer, spot market Power Block Exchange platform goes live in the 2nd quarter of 2018. 500MWe is roughly enough to power and supply the global Ethereum network or about one-fifth of the global Bitcoin network.”
The second quarter predictions are going accordingly, according to the commissioners of Butte-Silvers’ voted to bring up centers in Montana Connections. The 2nd quarter forecast stated it as “a special tax finance district west of Butte.”
No longer are all locals too happy about bitcoin mining facilities being in their cities.
Worries about officials getting overly enthusiastic about something temporary and turning in the precious land to an enterprise where the product can soar crazily in price. Never mind that nearly every economic expert has accused crypto of being a rip-off!
Regardless of what the future results might be, this state is gradually becoming a haven for crypto miners. Not too long ago, a $75M deal was signed with Crypto Watt, LLC in order to bring back 53 acres of land. After that came the “Project Spokane, LLC launched its site near Missoula. It’s already one of the largest energy consumers in the region, housing a 20-megawatt facility, employing at least 25 locals.”
It will be the third operation of its kind albeit a bigger one.