“We’ve come from just a few people out there who have been knocking on the door all of a sudden to people who are banging on the door pretty loudly,” Steve Wright, General Manager of Chelan County PUD, says in this article by Gil Davis from BTCManager.com. Find out what other factors contribute to the BTC gold rush happening in Wenatchee, Washington in the rest of the article:
Power prices are affecting where the power players run their mines, and bitcoin miners are moving to where the power is cheapest (and regulations are friendly). Bitcoin mining consumes so much energy that this Morgan Stanley report estimates it will exceed that of an actual country. For the full scoop, read this well-written article (which includes a comparison to bitcoin mining energy consumption compared to energy consumption by electric cars) by Monica Savaglia on WealthDaily.com:
"'We’ve come from just a few people out there who have been knocking on the door to all of a sudden to people who are banging on the door pretty loudly.'
Bitcoin mining is known to be energy-consuming. But miners here appear not to have this problem. Power is extremely cheap for the town— only 2 to 3 cents per kilowatt hour."
Michelle Caruso-Cabrera interviews Port of Douglas economic development Ron Cridlebaugh on the impacts of Bitcoin mining in Douglas County, WA. From the article:
- "Our infrastructure is actually being put to the test. We're full," said Ron Cridlebaugh, the Port of Douglas County economic development manager.
- Cryptocurrencies such as bitcoin and ripple have skyrocketed in value recently. Many people have been trying to get in on the action.
- Mining digital currencies requires a lot of electrical power as computers process gargantuan amounts of data.
Michelle Caruso-Cabrera reports for CNBC on why a small town hours from the nearest major city has become such a hot attraction for bitcoin miners. From the article:
"Wenatchee, Washington is home to a dozen of the largest bitcoin and cryptocurrency miners in the country. And the head of the local power utility, Steve Wright, says another 75 have inquired about coming here since the price of bitcoin surged in December."