$700 Million Investment Made By Coinmint For Its New Site

700 Million Investment Crypto Mining

Announcement from Coinmint revealed that it finally operations at its newest crypto mining facility in New York. It’s also reported that it already began mining several cryptocurrencies including bitcoin, dash, and ether operated via its fully owned subsidiary, North Country Data Center Corporation.

Coinmint site in Massena, New York provides enough space for operating one of the largest mining farms in the world. The 1300-acre, 435-megawatt site is located at a former aluminum smelting plant, operations are said to be at full capacity within the next 12 months.

According to the company, it will invest up to $700 million in its new site in addition to the roughly $50 million investment already made. Jobs created an estimate of 150 plus for the next 12 months.

Kyle Carlton, the Coinmint spokesman declared,

“The start of operations is a key milestone towards the Massena site reaching its full capacity.”

he also added,

“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.”

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