- A new 100-acre Bitcoin mining farm operated by Northern Bitcoin AG will have 1 GW of power capacity
The common saying is that everything is bigger in Texas, and apparently that applies to Bitcoin mining farms too. The world’s biggest mining farm is being built by Northern Bitcoin AG on a 100-acre plot of land in Texas. It will have 300 MW of power capacity when it initially opens, and eventually 1 GW of capacity before the end of 2020. This is three times larger than the world’s current biggest Bitcoin mining farm which is operated by Bitmain and actually located in Texas as well.
Japanese internet provider GMO Internet, which is heavily involved in Bitcoin mining, and Japanese financial services provider SBI Holdings have agreed to attract more investors to the project and to process Bitcoin transactions once the farm is operational. Basically, Northern Bitcoin AG is operating the farm on the behalf of large investors in order to protect itself from wild price swings, and GMO Internet and SBI Holdings are helping with that.
Apparently there is abundant and cheap wind energy in Texas, which is why the world’s largest Bitcoin mining farms are popping up in the region.
Image Courtesy: Pixabay