Valatie Falls Hydro LLC purchased this 1-megawatt dam late in March this year from Digital Powerloaning, a DPW subsidiary. DPW’s Super Crypto Mining subsidiarycanestablish a cryptocurrency mining farm atthe the dam,employing company’s AntEater miners.The firm developed new crypto mining devices in partnership with Samsung Semiconductors this previous this year.
As per a press release by DPW, the Valatie falls electric dam built late in year 1983 will now be employed as a new source to power the mining industry. Mentioning further the company further stated:
“Ourprimary re-employment of Valatie Falls dam will be to provideclean, low-cost, renewable power to Super Crypto’s future co-located mining farm is avital step of our strategyto forman economically viable,self-sufficient crypto mining business.”
The CEO and Chairman of the company aforesaid mentioning that:
“This project would providean efficientchanceto DPW subsidiaries to collaborate andintroduceto forma brand newmodel for crypto mining,thatelectricity isfar and awaythe biggestoperationalvalueissue.”
The lower electricity rates would help the company to mitigate the impact ofprobablyhigher rates for crypto mining farms.
Last month, theNew York’sState Public Service Commission approved new prices for the MassenaelectricalDepartmentthat mayallowhigh density load customers (like the crypto mining customers) to quality for serviceunderneathindividual agreements. Due to the abundance of lowvaluepower in upstatethe country, the commission believes itwillservethe requirementsof existing customers andadditionallyencourage economic development.