After a delay following cryptocurrency price falls, a project that’ll convert an old US defence building into a cryptocurrency mine is pressing ahead
Whilst cryptocurrency mining has had a tricky year, thanks primarily to the fall in price of Bitcoin across 2018, there’s clearly still some gold to be found. At least Wuhan General Group (China) Inc thinks so. It’s set to invest in an unusual piece of American real estate for a brand new cryptocurrency mining centre.
The Wuhan group is based in Nevada, USA, and is now in talks with the owners of a former US Department Of Defense data center, with the aim being to install over 1000 cryptocurrency mining machines.
The machines will then be put to work mining cryptocurrencies such as Bitcoin and Zcash, with the further aim being to then expand the operation so that it can house around 12,000 machines should capacity be fully realised.
Given that this is a Defense Department building, the exact whereabouts of the property haven’t been disclosed, and nor are there pictures available of it.
If all goes to plan, though, Wuhan will be looking to get up and running as early as next month. The company would have moved a few months earlier, reports Data Center Dynamics, were it not for the volatility of cryptocurrency prices over the past three months. Ramy Kamaneh, the CEO of the firm, admitted that they took stock and reassessed their strategy before pressing forward with their ambitious plan.
Now, the company believes that the cryptocurrency market has hit its bottom, and it’s thus pressing ahead with its mining plan.