Why bitcoin entrepreneurs are flocking to rural Texas
Mining cryptocurrency requires lots of cheap energy and many miners have settled on Texas as their destination
Lauren Aratani
Tue 17 Aug 2021 10.00 BST
A mine could help stimulate the economy, creating jobs and improving the county’s tax base. And in return, the mine will be powered by some of the cheapest electricity in the world.
crypto currency mining has nothing to do with physical activities at a physical (gological) mine. It's a specialized data center with a handful of maintenance crew on site. The rest of the activities is performed over the internet, the site owners can access their coin rigs from anywhere over the world. Also too to cheapest energy must be in place first for a company to invest at the location, cheap energy is not the result of a company showing up to use that resource there. Also too electricity is not an asset that remains at a location, if someone offers cheaper sources the switch to a new location can be done fast. I hope the data center has some backup plan for the next winter storm in place.
