Bitstarz Joker

A Power Plant in New York is Reportedly Mining Roughly $50,000 in Bitcoin Each Day

The Greenidge Generation plant – a power plant based in Dresden, New York – is now producing approximately $50,000 worth of bitcoin daily.

Over the past few months, the 650,000-square-foot power plant has installed approximately 7,000 bitcoin mining machines and is now mining about 5.5 bitcoins every day, as Bloomberg reported Thursday. Atlas Holding LLC, a private equity company, is the operator of the facility.

According to Greenidge, its mining equipment utilizes a "behind-the meter" system, which means that power can be used on-site without passing through the meter. The firm told Bloomberg that this way of using power makes the energy cost lower and more predictable. Read More...