There’s Bitcoin Gold in Them Thar Hills
CryptoWatt is investing $100 million in its bitcoin mining data center operation in Butte. The machines running inside this building have 10.9 MW of capacity.
Cryptocurrency miners have seen the future, and it’s in Butte, Montana.
Over the past six months, more than $350 million in new cryptocurrency mining data centers have been announced in this small southwestern Montana community, and more may be coming soon.
The tale of the tape counts CryptoWatt’s $100-million facility and Power Block Coin’s $251-million plant, on top of others that already exist in this hardscrabble town known for mining of another variety.
Matt Vincent, chief communications officer for CryptoWatt, says it’s not rocket science why his firm selected Butte-Silver Bow, the consolidated city-county jurisdiction that at its peak helped thousands of Americans amass unprecedented fortunes.
“The quicker you get online and start hashing, the more money you’re going to make,” Vincent says. “Hashing” is the crypto term for running and solving the algorithm equations. Mining machines work in the terahash range, i.e. making trillions of computations per second, he explains. Thus the energy demands.”We’re building state-of-the-art data centers. We’re fully invested, and we have a high degree of confidence in the long-term viability of blockchain technology. We’re building our data center to be nimble and to be around for a long time.”