Unused Australian Coal Plant to Be Used for Bitcoin Mining

Unused-Australian-Coal-Plant-to-Be-Used-for-bitcoin-mining

Two startup blockchain companies IoT Blockchain and mining hardware distributor Royalti Blockchain Group have partnered to launch a $190,000,000.20 mining facility within an unused coal plant in Australia. This was reported in an official announcement by Australian securities exchange on May 7.

The two blockchain companies intend on turning the Redbank power station into a blockchain applications complex. Hunter Energy Power Station intends to source the power for the project.

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Real estate for Bitcoin mining has quickly become an increasing trend over the year. These projects have been often met with various issues. Two instances in New York State and Canada drew criticism from authorities who consider the projects to not generate enough value for the local economy.

The Blockchain Applications Complex intends to change this position by securing you’ll for the next decade in order to mine the area of New South Wales Australia (120 KM north of Sydney).

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