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The World’s Oldest 3-Phase Power Plant to Mine Bitcoin

Mechanicville- Power-Station-mine-Bitcoin
  • The world’s oldest 3-phase power plant, announced it would mine Bitcoin
  • It would mine Bitcoin with some of the power it produces

Mechanicville Power Station 1897, the world’s oldest 3-phase power plant, announced it would mine Bitcoin with some of the power it produces.

According to the Albany Engineering Corp CEO Jim Besha, the oldest 3-phase AC hydropower plant is mining Bitcoin because the venture is more profitable compared to selling the extra energy.

The report comes amid Bitcoin mining being under fire over the carbon footprint impact. Notably, the majority of the Bitcoin mining firms in China were forced to shut down or move from China to other locations. As a result, the crypto market crashed. More so, BTC’s price dropped by almost 50% from the mid-April all-time high of $64,800.

Regarding this, Besha noted that the debate doesn’t concern him as they use renewable energy. Also, he added that the mining is an essay on the side as they are also disposing of used servers.

CEO Jim Besha said,

It’s the best [type of bitcoin mining] because we’re using renewable energy. We’re just doing it on the side, experimenting with it. We’re buying used servers.

Moreover, this mining idea comes in the wake of an existing bill in New York. The bill would outlaw Bitcoin mining due to environmental matters. However, it is not clear how the bill will affect the firm Bitcoin’s mining works as it uses renewable energy.

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Roland Guirdonan can be found writing, developing, and designing all sorts of content. Aside from his fascination with content creation, he is also passionate about blockchain and cryptocurrency developments.