Coinmint is building the world's largest Bitcoin mining center in what was once an Aluminum smelting plant. The new facility will be located in Massena, New York.
The cryptocurrency mining company Coinmint has signed a 10-year lease agreement with Alcoa at the end of 2017, and the company says the new complex will create about 150 jobs over the next 1.5 years.
Coinmint says it has invested 700 million dollars (US) into the old Alcoa facility that's located on the Canadian border in upstate New York. The one time aluminum smelting facility will be converted into a massive Bitcoin mining operation.
Coinmint's Chief Technology Officer Prieur Leary said, "As long as bitcoin network exists we anticipate mining to be profitable. We've developed a process to get an edge in the market."
One of the biggest advantages to moving to the region was the inexpensive sources of power. The area offers abundant hydroelectric and wind power, and seeing that each computer draws as much as 1400 watts, the area is perfect for an operation that needs to run 24 hours a day with a full time staff.
Based on capacity they will be the largest digital currency data processor in the world.