Over the past few months, quite a few bitcoin miners have been flocking to regions in North America in places such as Vancouver, and multiple states in the U.S. throughout the Midwest. Now, according to the state of Oregon’s regional press, miners are starting operations in the area because of concentrations of cheap hydropower.
Oregon’s Burgeoning Surplus of Energy Attracts Bitcoin Miners
According to local reports, cryptocurrency miners are finding themselves traveling the ‘Oregon Trail’ for cheap and reliable electricity. Terrence Thurber operates the biggest mining operation in the state called Oregonmines in a small town called Dalles. There are roughly 12 more mining operations in the Oregon, and Robert McCullough of Portland General Electric (PGE) says more facilities are on the way. However, McCullough is not too impressed by the mining movement staking claim in Oregon.
“We may well become the center of crypto-mining in the world,” the PGE consultant McCullough told the local press.
We may find our burgeoning surplus of energy will make us quite a capital for useless servers solving useless puzzles. It’s not as if we have a huge amount of employment attached. It’s not as if you’re going to have a big staff and a lot of smart people working on it.
Hard to Put a Quantity Value on Freedom
Thurber’s bitcoin mine is an industrial-sized operation with over 2,750 mining rigs humming away in a warehouse with no windows. The 33-year-old college dropout moved to Oregon three years ago from Costa Rica to start the mining facility. One of the biggest reasons miners like Thurber are attracted to Oregon is because of the Columbia River hydropower system. The hydro-powered electricity costs 3 to 4 cents per kilowatt-hour, a price significantly cheaper than most of the states in the U.S. Thurber believes the area is great for mining and thinks cryptocurrency mining operations will continue to have good fortune.
“This is the future,” Thurber explains. “The sooner people get on board, the better off they’ll be. It’s a ‘shoulda, coulda, woulda’ situation.”
It’s hard to put a quantity value on freedom — Cryptocurrencies will liberate your personal money flow.
New Money Coming In
Thurber says the location is also helpful because the facility is close to a major metro, and weather patterns are favorable. The Oregonmines founder says his operation is also providing new jobs in the area as well. The operation has fifteen employees right now, and roughly eleven of them are working full time…