Valatie Falls Hydro LLC purchased this 1-megawatt dam late in March this year from Digital Power loaning, a DPW subsidiary. DPW’s Super Crypto Mining subsidiary can establish a cryptocurrency mining farm at the 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:
“Our primary re-employment of Valatie Falls dam will be to provide clean, low-cost, renewable power to Super Crypto’s future co-located mining farm is a vital step of our strategy to form an economically viable, self-sufficient crypto mining business.”
The CEO and Chairman of the company aforesaid mentioning that:
“This project would provide an efficient chance to DPW subsidiaries to collaborate and introduce to form a brand new model for crypto mining, that electricity is far and away the biggest operational value issue.”
The lower electricity rates would help the company to mitigate the impact of probably higher rates for crypto mining farms.
Last month, the New York’s State Public Service Commission approved new prices for the Massena electrical Department that may allow high density load customers (like the crypto mining customers) to quality for service underneath individual agreements. Due to the abundance of low value power in upstate the country, the commission believes it will serve the requirements of existing customers and additionally encourage economic development.