Washington Town Triggers Bitcoin Rush for Miners

Why one small Washington town has seen so many bitcoin miners move in

Salcido uses 7.5 megawatts of power — enough to power 11,000 homes. He wants to produce 50 bitcoins per day by July, which would require a whopping 42 megawatts of power.

That’s why he’s in Wenatchee: Power is extremely cheap — between 2 to 3 cents per kilowatt hour.

The reason? A series of dams on the Columbia River provide abundant hydroelectric power.

But it’s not just the cheap power. Cooler temperatures help keep the servers at the right temperature. And for a small town Wenatchee has great internet capacity.

“So we have not only low-cost electricity but also very good access to internet,” says Wright. “People put those two together and think ‘opportunity for bitcoin’.”

Read More at CNBC

About Paul Gordon 2922 Articles
Paul Gordon is the publisher and editor of iState.TV. He has published and edited newspapers, poetry magazines and online weekly magazines. He is the director of Social Cognito, an SEO/Web Marketing Company. You can reach Paul at pg@istate.tv

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