New York state is one of the most hydroelectric abundant states in America. It has over 300 hydroelectric power stations, generating the fourth most hydroelectric power in America. One crypto mining firm has purchased the old Valatie Falls power station and is refitting it to become a crypto mining farm. The crypto mining rigs will draw power directly from the turbines, being the first crypto mining farm to be solely powered by hydroelectric power.
DPW Holdings – the company behind the project – has partnered with Coolisys to provide the crypto mining rigs. It will install its new Anteater miners which boast 10nm ASIC Bitcoin mining chips and advanced temperature scaling. The waste heat created by the mining process will then be used as heating for the control station. This is the perfect example of how nature can harmoniously interact with the modern blockchain-fueled world.
New York Loves Crypto Mining
Thanks to its cheap hydroelectric power, New York has quickly become a haven for crypto miners. The state has given municipalities the ability to charge their own rates to crypto miners in a bid to revitalize towns and areas that are on the decline. Thanks to these new measures and the lower price of power in the state, it’s now full to the brim with crypto mining firms and other states are beginning to follow suit.
New York state also boasts the cheapest electricity rates in America. In Massena, the average rate per kilowatt-hour is a mere $0.039 (approximately 630 Satoshis), whereas elsewhere in the US, the average rate per kilowatt-hour is roughly $0.13 (approximately 2,200 Satoshis).
Washington State Pausing Crypto Power Applications
Washington state is another area of America that boasts huge amounts of hydroelectric power, so it too has implemented similar laws where municipalities can charge their own rates. However, this has led to such an influx if crypto miners that the current infrastructure is becoming dangerously overloaded. This has caused a number of counties to pause applications for power from crypto miners. The pause will likely remain in place until local infrastructure can be upgraded to cope with the increased demands.
Texans Innovating the Cooling Process
The crypto mining process generates a vast amount of waste heat, and it’s the reduction of this heat that ends up causing huge bills. One crypto mining firm from Texas has come up with a novel solution to this problem – immerse ASIC miners in a coolant liquid. TMGcore predicts that it can cut up to 90% of its power bills by using liquid cooling, even during the middle of summer. While it has admitted that it will still have to run ACs during the peak of summer, the remaining months of the year the ACs can remain switched off – unlike most other crypto mining farms. For this reason, farms are usually built in cold places such as Siberia. Just last week Russia opened the largest crypto mining farm in the world in the icy tundra of Kirishi, sending shockwaves throughout the crypto world in the process.
This new installation marks the first hydroelectric dam to be repurposed into a crypto mining farm, but it might not be the last. The majority of hydro dams in America date back to the 1960s, meaning the equipment and technology is long overdue an upgrade, something that many operating firms simply cannot afford to do so. This makes selling the dam to a crypto mining firm an attractive business opportunity.
Green, clean, and renewable energy in crypto mining helps to keep the Bitcoin mining process environmentally friendly, something eco-warriors will applaud. Hopefully, more mining firms follow suit and switch to green power, as it could represent a fresh new direction for the cryptocurrency mining sector.