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Coinmint company plans to create the world's largest mining center in the USA. The mining company will invest $700 million in the new site.

The company is optimistic despite the fact that the bitcoin rate has fallen since the conclusion of the contract.

"As long as bitcoin network exists we anticipate mining to be profitable. We've developed a process to get an edge in the market," Coinmint's Chief Technology Office Prieur Leary said.

The center with a production capacity of 435 megawatts will be located in the former Alcoa East Facility complex in Massena, New York. Coinmint signed a leasing agreement for 10 years, with the possibility of extending the term in December.

The company is going to create 150 new jobs in Massena within the next 18 months. The Alcoa East Facility has not been operating for 4 years,and the city authorities consider such activity to be positive for the city.

Coinmint chose Massena as a location with cheap electricity generated because of its hydroelectric power station and windmills. Local climate will also help to save on cooling systems of equipment.

In May, Greenville-based startup Treis Mining invested about $10 million in a cryptocurrency data center in South Carolina. It will be the largest cryptocurrency mining farm in the state.

Earlier, it became known that public utilities districts in Central Washington cannot cope with the crypto “gold.” The area has been transformed into a “cyber-boomtown.” This happened because bargain electric rates are attracting miners.

By Ekaterina Ulyanova

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