Bitcoin Mining as Economic Development

The New York Power Authority is considering a new kind of economic development scheme.

1 minute read

February 8, 2018, 6:00 AM PST

By James Brasuell @CasualBrasuell

Messena, New York

The dormant Alcoa East plant, pictured in 2009 from above. | Russ Nelson / Flickr

A proposed Bitcoin mining center could be built on the site of a defunct aluminum manufacturing facility in Messena, New York.

"North Country Data Center has requested a 15,000 kilowatt allocation of preservation power from the New York Power Authority for its proposed operation at the now-vacant Alcoa East plant," reports Bob Beckstead. The plant would require a $165 million investment, and could bring 150 jobs to the site.

The article also goes into detail about the Bitcoin mining process, in case you're still understandably confused about why the creation of cryptocurrency would require a mining facility that draws so much power from the grid. For additional in-depth coverage of Bitcoin mining, see also an article by Cao Li and Giulia Marchi, published by the New York Times in September 2017.

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