It appears that old Alcoa aluminium facilities are being put to good use, as one more is now earmarked for cryptocurrency mining.
Alcoa World Alumina and Chemicals (AWAC), with customers in China, the United States, Europe, and Brazil are letting some of their old operational US sites for aluminium processing go. The last to be utilised for a completely different type of product was the company’s aluminium smelting facility in New York State with crypto company Coinmint’s new installation making it one of the world’s largest cryptocurrency mining centers.
The smelting plant in Upstate New York has signed a deal with Coinmint, offering the facility on a 10-year lease, with an option for renewal. The cryptocurrency mining company is investing about USD 700 million into this new facility which is expected to bring in over 150 new jobs to the nearby town of Massena.
Bitmain is now in on the action, using a $500 million investment to construct another facility for crypto mining in Rochdale, Texas. The new operation is said to be viable for 7 years, adding to the local and state economy. According to Bitmain’s press release, the new construction on the old Alcoa Rockdale Operations site is underway and hopefully be ready in early 2019. The new Bitmain facility will be bringing 400 local jobs to the economy in the first 2 years.
The company is already recruiting employees for its data center in Rochdale and is seeking senior management, sales and finance specialists, engineers and technicians. Bitmain also plans to work with local schools and educational programs in order to prime locals for possible employment over the next few years as the data center develops and expands. Jeff Stearns, executive vice president and director of operations at the company, commented:
“Bitmain is truly honored to announce this news and is excited to work with local partners, government and stakeholders in realizing this vision, throughout the initial set-up phase, operations and beyond.”
Amid stiff competition around the world, companies are finding it increasingly difficult to find locations suitable for Bitcoin mining. The revamped Alcoa plant promises to be a boon for this particular local community at least.
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