Coinmint To Invest $700 Million in Former NY Aluminium Plant

Coinmint has reached an agreement with the local authorities of Upstate New York’s Massena country. The New York Power Authority (NYPA) decided to support an initiative by NCDC, the Coinmint subsidiary North County Data Center, to open a bitcoin mining facility in the premises of the old aluminum smelting plant known as the Alcoa East Facility.
This is a 1300-acre estate that has a power capacity of 435 megawatt. In particular, the place was chosen for having stable and reliable electricity and rich power generation sources because it is located on the northernmost border of the State of New York, and it has nearby hydrogen power from the St. Lawrence River Dam. The area is very windy and cold throughout the year and presents the ideal conditions for computers and mining equipment that tends to overheat.  
Until now, during the reconstruction of the future bitcoin mining plant, Coinmint already invested nearly $50 million and promises to invest up to $700 million total. According to the agreement with NYPA, the construction phase will be completed by June next year, and initially 75 people will be employed. Another 75 people are expected to be hired at a later point. In …

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