In response to the aforementioned article, the county is already used to internet hosting a considerable crypto mining business. Crypto miners have been attracted to numerous central Washington counties resulting from their entry to low-cost hydroelectricity-generated energy; nonetheless, the mining increase has reportedly busted in 2018, after the market downturn.
The Seattle Occasions writes that native officers hope that blockchain can energy a much less risky business. The article cites Lisa Parks, govt director of the Port of Douglas County, as declaring:
“There’s extra to the [cryptocurrency] story than the increase and the bust.”
The Douglas County Division of Commerce is about to contribute $50,000 in a grant to the creation of the blockchain innovation campus.
The beforehand wealthy cryptocurrency-related native exercise has left the county with ample high-speed computing and crypto experience, which, coupled with the native low-cost energy entry, constitutes a bonus for growing such know-how, in keeping with The Seattle Occasions. Perks reportedly declared:
“We’ve got some distinctive property that make our area interesting to that business. […] Let’s determine a method to capitalize on it.”
Not all of central Washington’s counties have been so pleasant in direction of the business. As Cointelegraph reported in November final yr, central Washington’s Chelan County Public Utility District (PUD) has proposed a brand new electrical energy pricing construction for cryptocurrency miners meant to cross down the price of elevated electrical energy demand.
The town of Ephrata, Washington, additionally reportedly halted new crypto mining developments within the metropolis for the 12 months following October final yr. Then again, Douglas County reportedly didn’t improve energy costs for brand new miners as sharply, wanting ahead to growing the business.
In November 2018, main cryptocurrency mining and mining ASIC producer Bitmain reportedly opened a $20 million mining facility in Douglas County, which is able to use 12 megawatts of electrical energy. This quantity of energy, in keeping with the article, is sufficient to energy wherever from 1,500 to 4,800 properties.
In response to the article, this pattern continued even after main crypto mining and blockchain agency Giga Watt had filed for bankruptcy in November 2018, allegedly owing the Douglas County Public Utility District greater than $310,000.
The port of Douglas County, which owns the Giga Watt services, is reportedly now in talks with a number of investor teams about utilizing the services for mining or different computing-intensive purposes like knowledge analytics or synthetic intelligence (AI).