Judge Mike Campbell of Clay County counts more cows than people roam in this sparsely populated county just south of the Red River. He was surprised to find that some people were grazing cryptocurrencies in the area.
It’s a small outfit as these things go, Dexa resource Promotes the benefits of a cryptocurrency mining business in the Texas countryside.
For clients interested in mining digital currencies and other computing ventures, there is plenty of room for expansion, cheap rents and competitive electricity prices. According to the company website..
Cryptocurrency mining site was overlooked near Wichita Falls
Campbell recently learned about the site from a nearby county official seeking advice on how to handle cryptocurrency mining — because Clay County had already done so.
“I don’t know what you’re talking about,” surprised Campbell told him.
A county judge confirmed the site’s existence and found it humming from one of the country roads across Clay County.
“It’s on the Texas-New Mexico power line,” Campbell said.
It’s not surprising that high-tech clothing was overlooked in more than 1,000 square miles of Clay County, which is home to about 10,456 people.
Wichita Falls Cryptocurrency Mining Business “Drops a Bucket” in Texas Market
The general manager of Dexa Resources is New Yorker Darius Tarsio, who turned to Texas a few years ago.
The cryptocurrency mining site is located in Clay County. Because he and others own the property there, said Tarcio, an electrician who leads a design and engineering company.
“Compared to what’s happening in Texas, we’re a drop in buckets,” he said.
Texas’s huge crypto mining project, which is considered the next hotspot for crypto mining, usually chooses a rural location.
Tarsio commented on the popularity of LoneStarState’s cryptocurrency.
“There are certain states in the country that are trying to promote decentralization of currencies,” he said. “I hope Texas will be one of them.”
Tarsio sees Texas as more open-minded to decentralization, showing that the state is embracing the free market and the Republicans are devoted.
How do cryptocurrencies work? How does cryptocurrency mining work?
Bitcoin, Ethereum, Dogecoin, etc., which were established in 2009 as the first cryptocurrencies, are not monitored by traditional banks.
They are decentralized and rely on blockchain, a shared digital ledger, to move transactions between peers.
“In a traditional bank, you go to the bank and move the transaction. If you want to move Bitcoin from point A to point B, someone needs to move the transaction,” Tarsio said.
“No one is assigned as an intermediary. Anyone can be a middleman. It’s a random thing,” he said.
He said that every time a miner makes a peer-to-peer transaction, they get paid.
But that’s not much unless they are speculative, involved in coin mining in the future, or they have the best and most expensive mining equipment, Tarsio said.
Cryptocurrency mining involves using a computer to solve complex algorithms, he said.
“It can’t be called a server very differently. It’s a little different, but it’s just a computer,” he said.
Cryptocurrency mining requires a lot of power, and Texas power is cheap
Computers require a lot of energy, and Texas electricity prices are attractive to miners.
“Texas energy prices are much lower than most of the country, so that’s why they come there,” Tarcio said.
Recently, prices aren’t very competitive-probably because of the February 2021 freeze and power crisis in Texas, he said.
As Tarsio admitted, the amount of power that cryptocurrency mining draws has caused controversy.
“But if you have problems with the power grid, work with miners,” he said.
Countries and countries in need of this technology can sign agreements to limit the amount of electricity mining can draw from the grid, for example in cold weather, he said.
“If you shut down, that means you don’t want it, which means you’ll be like California, who doesn’t want this technology,” Tarsio said.
According to the Dexa Resources website, Clay County’s cryptocurrency mining site has 0.5 MW of power and is slowly expanding to 1 MW.
According to Campbell, the site is currently valued at $ 133,000 by the tax office.
Other companies have much larger projects in progress.
The Houston-based Lansium project planned in Taylor County will use 200 MW and is expected to scale up to over 1GW. According to Abilene Reporter News Report.
The 100,000-square-foot data center, 800 acres northwest of Abilene, is fueled by renewable energy. According to Abilene Reporter News..
According to ARN’s report, the company aims to engage in Bitcoin mining and other activities and will invest $ 2.4 billion over 20 years.
Dallas-based Bootstrap Energy plans to develop container mining on more than 114 acres of Corpus Christi. According to Corpus Christi Caller Times..
According to the story, Bootstrap Energy’s investment includes a $ 130.5 million asset improvement over $ 1 billion in computer equipment.
According to the story, in the event of a power emergency, operations will participate in programs to reduce energy usage and avoid impacts on the grid.
Trish Choate, an enterprise watchdog reporter for Times Record News, covers education, courts, the latest news, politics and more. Contact Trish for news tips at email@example.com.Her Twitter handle is @Trishapeia..