In this rural Texas town of 5,600 people, two of the biggest names in bitcoin mining are battling it out for market share and cheap electricity.
"They have money. They have equipment. They just need a place – and power, quick," said Gibson.At the main entrance to Bitdeer's Rockdale mine is a small tin shed accented with light blue trim, staffed by a smiling, upbeat guard. There is no gate, nor are there any spike strips on the pavement to deter unwelcome vehicles. Considering how secretive Bitdeer is as a company, it seems relatively welcoming – and surprisingly easy – to gain entry to the property.
When Whinstone first broke ground in Rockdale in January of 2020, many saw it as the David to Bitdeer's Goliath. Harris, the Whinstone CEO, hailed from New Orleans, where he was known for selling pre-decorated Christmas trees to wealthy families. The CTO, Harris' youngest son, had blue hair and had just dropped out of college after his freshman year."No matter what Alcoa told us, we agreed to it," said Harris, of the initial negotiations.
"We bought all the orange conduit in the United States. Every last stick of pipe you could get your hands on," Harris recounted. "And then they call back a week later saying they made a mistake. 'We can't deliver all this.' We're like, 'Just send the money back.' And then they say, 'Hold up, I think we can solve it.'"
183 days later, in June of 2020, Whinstone began mining. Harris estimates that on day one, they had 300% more capacity than Bitdeer. "We brought them over, gave them the pictures, told them what machine to buy, told them how to do it. It still took them like eight months to plug the machine in," he said.
The more machines a miner has online, the greater its share of the network's hashrate, and the better its chances at winning bitcoin. Whinstone builds its own substations which gives the firm an advantage over other would-be miners looking to head to Rockdale. They are in the process of installing three 100-megawatt transformers now.
Norge Siste Nytt, Norge Overskrifter
Similar News:Du kan også lese nyheter som ligner på denne som vi har samlet inn fra andre nyhetskilder.
US Justice Department sues Texas over controversial voting lawThe US Justice Department filed a lawsuit on Thursday against the state of Texas over a recently passed law the federal government says will unfairly restrict voting.
Les mer »
Texas governor calls books 'pornography' in latest effort to remove LGBTQ titles from school librariesGOP Texas Gov. Greg Abbott has called on the state's school boards to remove books he described as 'pornography,' a move that comes after at least two state lawmakers have asked officials to investigate books in schools.
Les mer »
Matthew McConaughey weighs 'outlaw' bid for Texas governorMatthew McConaughey's transformation from rom-com heart-throb to serious Oscar-winning actor for 'Dallas Buyers Club' was so remarkable it earned its own neologism.
Les mer »
Texas homeowner fatally shoots man with medical condition who wandered onto porch in middle of nightA Texas homeowner shot and killed a 21-year-old man Monday during an early morning encounter on his front porch.
Les mer »
An Indigenous tribe in Texas is getting its sacred burial ground backThe decision by local officials in Presidio, Texas, to transfer back the cemetery is the latest instance of land being repatriated to Indigenous tribes -- a small victory in a movement that has been building across the nation.
Les mer »
Texas Bar Denies 'Banning' Mariah Carey Christmas ClassicA bar in Texas has denied 'banning' Mariah Carey's jingle bell classic 'All I Want For Christmas is You' after a tweet claimed that patrons were not allowed to play the track during the holiday season.
Les mer »