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Abilene, Texas to Build $2.4B Data Centre Hosting Bitcoin Mining

Texas continues to establish itself as the world’s new premier Bitcoin mining hub. The City of Albine recently announced a partnership with Lancium – a Houston-based energy infrastructure company – to build a $2.4B data centre. The centre will also host Bitcoin mining, among “other energy-intensive applications”.

More Mining in Texas

As reported by KTXS12 News, the data centre is to be the largest Albine city project to date. The project – titled “Project Artemis” – will begin at 200 megawatts of electricity and eventually expand to 1 gigawatt. And it will get its power from renewable energy.

Renewable energy is responsible for a massive portion of hash power on the Bitcoin network. In addition, the nature of mining allows for the monetization of isolated energy resources like never before. According to Nic Carter –co-founder of Coinmetrics – sustainable energy accounted for nearly half of Bitcoin’s hash rate in July.

“We are proud to be at the forefront of this movement that will utilize and revitalize 800 acres of land,” said Downing Bolls, a judge of Taylor County. He noted that Lancium’s $2.4 billion investment would help improve real property within the county.

The project should solidify Taylor county as a hotspot for renewable energy. Also, it should create 57 new jobs in the area. Texas’s energy grid has also made it an attractive location for Bitcoin miners. For instance, they can choose to relocate there after China’s ban. As a result, the United States has usurped China with the most hash power.

The project should reel in over 900 million dollars over the next ten years, according to DCOA president Misty Mayo. It will host 100k square feet of industrial electrical equipment, partly used to host Bitcoin mining. Lancium CEO Michael McNamara said he chose to build in Abilene because of its proximity to abundant wind and solar resources.

Mining Takes Off

In retrospect, China’s ban has done almost nothing to stop the growth of Bitcoin mining across the planet. The Hash rate has already resurged to an all-time high following its fall in May and is now 70X more potent than in 2017.

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Mining has become a well-respected industry and even a Bitcoin investment alternative for institutions. For example, VanEck recently filed for a Bitcoin mining ETF shortly after having their Bitcoin spot ETF application rejected.

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