Bitcoin Miner Aspires to Launch Largest Crypto Mining Facility in the …

Coinmint, a cloud mining service provider, has confirmed it will go ahead with its proposed plan to open a cryptocurrency mining plant in an abandoned smelter previously used by Alcoa, in Massena, New York.

In a statement published online, the company said it will repurpose the 1,300-acre, 435-megawatt site into the biggest cryptocurrency mining plant in the world. The move, which was approved in February, will see the mining service invest up to $700 million and the creation of 150 jobs in the coming months.

The company remains unfazed by the slump in bitcoin prices, which has seen a drop of almost 50 percent this year, according to data from Coinmarketcap.

In correspondence with Bitcoin Magazine, Coinmint CTO Prieur Leary said, “Current bitcoin prices affect the value proposition. That being said, we are very comfortable with current metrics, given our technology and infrastructure.”

Coinmint sees upstate New York as the perfect environment for them to set up shop. Operations…