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Bitcoin mining brings new business opportunities
--The revenue of a century-old hydropower station is three times higher than that of electricity sales
Last Thursday, local news from Mecanicville City, Saratoga County, New York reported that a hydropower station built in 1897 was about to be demolished, but now, this hydropower station is being used for Bitcoin mining. As the world's oldest renewable energy power station, he now makes much more money from Bitcoin than selling electricity.
Century-old hydropower station can also be used for Bitcoin mining
This hydropower station is located in a historic district of Mecanickville, covering an area of 18.3 acres. It was established by the Hudson River Transmission Company. It has a history of 123 years and is the longest-running hydropower station in the United States. Many years ago, the station was already ready to close. Today, the site is affiliated with Albany Engineering and operated by the company. In order to ensure that we can continue to obtain cheap renewable energy, the company signed an agreement with National Grid .
As Albany Engineering CEO, Jim Besha revealed to local reporters that their revenue is currently twice as high as before selling electricity to State Grid, multinational electricity and gas utilities.
Recently, Besha also said in an interview: "We really make more money on Bitcoin than selling electricity." If we want to sell electricity to the State Grid, the company can only earn 3 cents per kilowatt-hour. In addition, Bessa further added: "We are using renewable energy now, which is the best Bitcoin mining method. But this is the extra method we use to make money, just try to do it first. We are all buying some used servers to run it.
Albany Engineering Company realizes Bitcoin monetization
This site uses a century-old hydropower station, a earth dam and a concrete non-overflow dam, and a 700-foot-long mixed The concrete gravity overflow dam was able to operate. To complete this huge renovation, the company invested a lot of money and resources. In 1989, the facility was listed on the National Register of Historic Places. As the company's CEO, although Bessa still had a little doubt about the future of Bitcoin, he still told the media that the company could cash in on Bitcoin immediately.
Bessa said he wanted to sell renewable energy to the State Grid, but the company violated the association signed in 1993 The agreement stipulates that the price of selling electricity to the State Grid for McCannyville Hydropower Station must be slightly lower than the market price. Since then, the two companies have been in a long-term lawsuit.
However, when Bessa obtained the McCannyville Hydropower Station operation license, the State Grid contacted the company and claimed that they would not fulfill the agreement signed previously. If there is any objection, see you in court.
But local news reports in McCannyville pointed out that Albany The company invested the entire power station in Bitcoin mining, so that these old machines that could not create new profits could be reused again.
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