[2018-06-03] Bitcoin Mining Operation Powered by Hydroelectric Dam in Q4 2018

[ruthbabe]

A California-based Bitcoin mining company has completed work on a repurposed hydroelectric dam to service its new mining farm, a press release announced Thursday, August 23. DPW Holdings will now prepare to use the dam, which is located in Valatie Falls, New York, as the source of electricity for its yet-to-be-built mining facility towards the end of 2018. See more for yourself here.

[Harlot]

I am more curious on how did they obtain the dam itself as it is considered as a public property and everyone must benefit from it. I didn't know that you could re-purpose such thing for individual reasons. They could just re-open the dam itself for all the people to benefit it instead they gave it away to a company for the purposes of giving power to a mining company. Well I just hope it pays off at the end via taxes being paid with their earnings. Also the New York government must be smart if they just leased the dam instead of selling it to them completely.

[TraderTimm]

Interesting. I dug a bit further and its a repurposed 1MW dam -- https://www.power-eng.com/articles/2018/08/new-york-hydropower-site-fully-dedicated-to-cryptocurrency-mining.html

The big news here is DPW is using "AntEater" miners, which it developed in early 2018 in collaboration with Samsung Semiconductors.

Anything that steps away from Bitmain is a big positive in my book.

DPW is publicly traded, so you can get a cut of the action if you're so inclined.

[InvoKing]

Anything that steps away from Bitmain is a big positive in my book.

For sure, I would like to see more giant tech companies competing Bitmain not only for less expensive prices but also for more decentralisation.

@OP fix the date on the title.

[rodskee]

A California-based Bitcoin mining company has completed work on a repurposed hydroelectric dam to service its new mining farm, a press release announced Thursday, August 23. DPW Holdings will now prepare to use the dam, which is located in Valatie Falls, New York, as the source of electricity for its yet-to-be-built mining facility towards the end of 2018. See more for yourself here.

People always use alternative to find out for better how to make money in crypto
Another good news people continue use their talent for the progress of bitcoin how mind using the natural resources.

[Sutters Mill]

I clicked on this expecting it to be another sort of ICO scam where they need your money and you're "guaranteed" some sort of great returns (ponzi cough cough). Doesn't seem to be which is good. It's going to be interesting to see new mining farms pop up over the next few years. I'm sure we'll see all sorts of wind and solar powered ones arriving. With rising mining costs and worries about the climate I think they'll be essential to use.

[veleten]

thank god there are companies challenging Bitman's monopoly
the power plant will be operational late 2018 so there is a good chance they start working straight away
investing in them could be a decent investment ,unlike the host of shady ICO with their "revolutionary" ideas
provided that we all expect the price to go up come end of the year, this could be an excellent way to invest your coins while you wait

[Theb]

This solves the problem of "Cryptocurrency Mining is using .5% of the World's power demand" where a lot of people are making it big. Articles relating to the power demands of crypto mining always fail to show that they could be using renewable sources of energy in order not to disrupt the main source which is coal, if things goes positive with this company for cutting down cost I just hope that some lawmakers don't have some kind of crazy idea on requiring mining farms to use only renwable sources to power up their plant.

[BitHodler]

thank god there are companies challenging Bitman's monopoly

Definitely, but there is far more happening behind the scenes that we don't know of yet, which is because of how profitable this industry really is. Smart players don't signal profitability, which is where Bitmain went wrong.

Due to Bitmain's mistake to signal profitability, I'm pretty confident that their share of the pie will significantly decrease before the next block halving kicks in. If they remained low-key they probably would have kept growing.

In other words, we can look forward to far more decentralization in the next couple of years. More decentralization means a stronger Bitcoin overall. This actually gives me goosebumps. It's that aspect what we're here for.