Bitcoin Mining Farm?
Australian Securities Exchange (ASX) Australian startup IoT Blockchain and mining hardware distributor Royalti Blockchain Group revealed their joint plan to build a mining complex in a disused power station.
This 190 million Bitcoin mining deal in a disused coal plant was confirmed in a official announcement May 7.
Together, they plan on turning Redbank power station into a “Blockchain Applications Complex,” with nearby Hunter Energy Power Station sourcing cut-price power for the project. If the initiative succeeds, it will result in a Bitcoin mining operation spanning two hectares.
Repurposing old energy real estate for crypto mining has became a trend in recent years. Similar attempts in New York State and across the border in Canada has drew cruticism form authorities since these projects will not generate much value for the local economy.
What do you guys think? Bitcoin mining is not really worth it for your average person due to ASICs. But even the few jobs a mining farm provided will create more money flow in the economy. It isn’t the worst but you never know.
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