Old power plants, factories, and warehouses are being loaded up with crypto mining rigs.
7. 14. 21As the energy demands of cryptocurrency mining garner increased scrutiny, some mining operations are cutting out the middleman and setting up shop inside existing power plants.
These companies are in search of what's called "stranded power," which could be an existing power plant or an abandoned facility with access to dormant energy sources,mining company called Core Scientific moved into an old Levi's denim factory that had near-exclusive access to a nearby hydroelectric dam.
"That's why certain places like the old Alcoa [aluminum] factories are some of the most popular," Mike Colyer, CEO of the crypto mining supply company Foundry, told, "because they're very large buildings with a lot of installed electrical infrastructure, and the buildings were designed to remove heat, so they become natural places for mining."
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