A Gas Power Station In The United States Is Earning An Amazing 5.5 BTC Per Day

Steve Anderrson
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain. Join the official channel of thecoinrepublic, For the latest news updates: https://t.me/thecoinrepublic
  • A natural gas plant in the United States has installed miners and mines almost 5.5 BTC every day, and that is not even it’s the main business.
  • In addition to supplying New York State with heat and electricity, the station also receives about 5.5 BTC daily.
  • Producing 5.5 BTC every day is a perfect number as the current price of bitcoin is staying around $9000.

A natural gas plant in the United States has installed miners and mines almost 5.5 BTC every day, and that is not even it’s the main business. The Greenidge Generation gas power station was reopened in 2016 after it had been closed after a long period in 2011 was built in the year 1937 as a coal plant.

This very old plant was, for five years, out of function till a private investment company from Connecticut converted it into a natural gas plant. In addition to supplying New York State with heat and electricity, the station also receives about 5.5 BTC daily. This was made possible because of the recently installed miners that were installed in a huge number, and the number is a whopping 7000.

Greenidge used only to be able to work in the summer and winter when the electricity demand used to be at its peak because otherwise, it was not able to fund its operations based on just the income from supplying electricity.

This has, however, changed totally since the miners have been installed. Now the company doesn’t need to worry about funds to run their plant as the income from the bitcoins is huge.

Producing 5.5 BTC every day is a perfect number as the current price of bitcoin is staying around $9000, which means the company is making around 50 thousand USD per day only from the Bitcoin.

Even though mining Bitcoin is a fine option because of the cheap electricity and can be attractive for now but the situation might change in May 2020, as the block rewards will drop from the current 12.5 BTC to 6.25 BTC.

According to some estimates, the annual income of bitcoin miners may be reduced by $ 3.1 billion if the price of bitcoin does not increase any further.

After halving the price of 1 Bitcoin is expected to go anywhere from $100,000 to $1 million, but that is just an expectation considering the past. The price of bitcoin will decide the fate of many miners now.

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