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A hydroelectric dam in japanese New York State is being transformed right into a devoted crypto mining farm, benefiting from low-cost, renewable vitality, based on Dpw Holdings whose subsidiary is constructing the mining farm. Anteater miners, outfitted with ASIC bitcoin mining chips developed by Samsung and Innosilicon, might be used on the location, the corporate introduced.

Dam Turns Mining Farm

A hydroelectric dam roughly ten miles south of New York’s capital metropolis, Albany, is being transformed right into a devoted cryptocurrency mining farm, Dpw Holdings Inc. introduced on Thursday.

Hydroelectric Dam in New York Repurposed as Crypto Mining Farm“The historic Valatie Falls, New York hydroelectric dam will become operational during the fourth quarter of 2018,” the corporate detailed, including that it’ll “serve as a fully-dedicated source of low-cost, renewable power for a new co-located cryptocurrency mining farm to be built and operated by DPW’s wholly-owned Super Crypto Mining subsidiary.” CEO and Chairman, Milton “Todd” Ault III, commented:

Our profitable repurposing of Valatie Falls dam to offer clear, low-cost, renewable energy to Super Crypto’s future co-located mining farm is one other essential step in our technique to create an economically viable, self-sustaining cryptocurrency mining enterprise.

Collaborating with Samsung Semiconductors

The 1-megawatt Valatie Falls dam was constructed in 1983 and bought in March by Valatie Falls Hydro LLC, utilizing debt financing offered by Dpw subsidiary Digital Power Lending.

Hydroelectric Dam in New York Repurposed as Crypto Mining FarmAnother subsidiary of Dpw, Super Crypto Mining, is constructing the cryptocurrency mining farm on the web site. The firm will set up the proprietary “Anteater” miner, launched by a 3rd subsidiary, Coolisys Technologies Inc.

In June, Dpw introduced that Coolisys launched a line of crypto mining models, the Superminer line. Its first miner mannequin, the Anteater, options 10nm ASIC bitcoin mining chips collectively developed by Samsung and Innosilicon. The new mining rigs are scheduled to go on sale to the general public beginning on September 1.

Hydroelectric Dam in New York Repurposed as Crypto Mining Farm“The Superminer line, including the Anteater, is equipped with advanced dynamic frequency and temperature scaling for reliable performance under virtually all conditions,” Dpw wrote. “The 10nm mining chip in the Anteater is based on Samsung’s System-on-chip high-performance computing technology which provides the world’s most efficient ASIC cryptocurrency mining design, with the Anteater operating at 17.2TH/s.”

Amos Kohn, Chairman and CEO of Coolisys Technologies, mentioned:

It has been our aim to enter the cryptocurrency mining market, to compete face to face with Bitmain and Avalon, and look to offering innovation in miners and advances in expertise serving the crypto-mining sector.

What do you consider this dam in New York repurposed as a crypto mining farm? Let us know in the comments part below.

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