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Foundry Digital, a subsidiary of Digital Currency Group, states that about 12.4% of the U.S. based hashrate resides in Kentucky.
Blockware Solutions CEO, Mason Jappa, stated that the reason for the company’s choice to build facilities in Belfry was because of the state’s incentive program and pro-mining stance.
Jappa states that he and his company found the perfect combination of political sustainability and low-cost energy that supports the local economy. The town is also in an environmentally safe, sound, and cool which are all ideal attributes for Bitcoin and cryptocurrency mining facilities.
Here's another article on Blockware's plans:
The privately held crypto mining and infrastructure company, has built a 20-megawatt (MW) mining facility in Belfry, Kentucky, the first of three planned sites in the region.
The data center will allow customers to co-locate their mining rigs and has been testing with select clients since January, according to a press release. The facility’s power capacity could also be expanded to as much as 75MW.
“Kentucky was the first state, in my opinion, in the United States to pass a House and Senate bill that actually incentivized bitcoin miners with tax and other initiatives,” Jappa said.
Blockware doesn’t provide its power costs but according to the Global Energy Institute, in 2020 average retail electricity price in the state was $0.0856 per kilowatt hour, compared to $0.0858 in Texas and $0.149 in New York.
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Where are all the miners? Check out the most updated % each state has of Foundry USA Pool's US-based hashrate. We aim to provide trusted and transparent data within our industry at every turn.
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