Whinstone US and Northern Bitcoin of Germany have announced the construction of the biggest Bitcoin mining facility of the world in Texas which will dwarf the already huge mining facilities in existence. The new mining facility is initially slated to have over 300 megawatts of power usage but eventually, it could rise to as much as a mammoth 1 gigawatt in the future when the full facility is eventually commissioned.
While huge Bitcoin mining centers in China have gained the attention of the world, interestingly it is Texas that is going to be the home of the next biggest mining farm ever built. Currently, five out of five of the top cryptocurrency mining farms are in China due to cheap power and government facilitation of the miners. But, all of that may change in the future as the US is also becoming a lucrative destination for miners.
Bitmain, the main Chinese company involved in Bitcoin mining has set up a 50-megawatt mining farm only a few miles away from the currently proposed venue for the Whinstone US-Northern Bitcoin venture. It is yet unclear what is driving these companies to set up plants in a particular vicinity. They could be anything from cheap electricity to tax exemptions from the government. Mining is often associated with colder climates like in Iceland, Canada, and China but with the Texas farms, this presumption could probably end.
This could be a possible shift in power when it comes to Bitcoin mining and its future.
Image Courtesy: Pixabay.com