World's Largest Digital Currency Data Center Commences Operations
Coinmint to Invest up to $700 Million in Massena Infrastructure and Redevelopment of the Former Alcoa East Facility over the Next 18 Months
Jun 05, 2018, 09:00 ET
NEW YORK, June 5, 2018 /PRNewswire/ -- Coinmint, a firm that utilizes data servers to process digital currency transactions, has commenced operations through its wholly owned subsidiary, North Country Data Center Corporation. The company's blockchain infrastructure services several prominent digital currencies including Bitcoin, Dash and Ethereum. The 1300-acre, 435-megawatt site in Massena, New York, maintains the largest capacity from a digital currency data center in the world. In addition to the $50+ million USD of investment to date, the company will invest up to $700 million USD in its new site, creating an estimated 150 plus jobs over the next 18 months.
"The start of operations is a key milestone towards the Massena site reaching its full capacity," said Coinmint spokesman, Kyle Carlton. "The area's citizens and its hydroelectric power- a green alternative to the less sustainable energies used at other digital asset infrastructure data centers- were the catalyst for our move and will be foundational assets for continued expansion. The reduced electricity costs will enable us to compete in the rapidly emerging digital currency global marketplace."
Operations are underway at the former Alcoa East Facility complex, and are projected to be at full capacity within the next 12 months.
The North Country Data Center Corporation operates 24/7, 365 days of the year, employing security personnel, IT technicians, electricians, installers and operational staff.
"We in Massena, would like to welcome Coinmint to our town," said Steve O'Shaughnessy, Massena Town Supervisor. "The thought of 150 jobs and revitalization of the Alcoa East Facility is exciting and what we have been working for. We are ready to provide any assistance we can to move this project to its full potential."
To learn more about the economic development being fueled by Coinmint's revitalization of the Alcoa East Facility, please visit coinmint.io.
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Oluwa Falodun
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About Coinmint
Coinmint designs, builds and manages large-scale, secure and sustainable data centers. Since 2016, these centers have focused on the production of efficient computational processing power (or hash rate) as well as the creation of digital asset infrastructure - principally in the form of Bitcoin and other leading digital currencies. In 2017, Coinmint acquired the Alcoa East Facility to supply its 435 Megawatt mining center, making it the world's largest digital currency data processor, based on capacity. Find out more at www.coinmint.io
SOURCE Coinmint