Start-up accelerator launches a crypto mining farm in Argentina’s Mar del Plata

Lothal Mining company will host a massive crypto mining operation
  • Mar del Plata was selected for the building of the project of crypto mining in Argentina
  • The project received huge funding of 45 million pesos from the Grupo Neutron investors and aiming for about 200 million pesos funding in the future
  • Many experts in this domain have claimed the project is exciting with the perfect selection of a building spot and working environment

A huge undertaking is in the making in Mar del Plata, a high-tech district of Argentina. They have taken up hosting and launching a new operation based on crypto mining. The project will be receiving support from the accelerator of domestic start-ups. The Argentinean city will be starting with the project very soon, and this will be a huge step in the crypto domain for both the domain and the country of Argentina. The entire project operation will be run and overseen by the Lothal Mining company. La Capital, the local newspaper of Argentina, has posted that the project has received 45 million pesos from Grupo Neutron. There was also a mention that the mining project will be receiving more fundings of about 200 million pesos in the coming days. 

About the initiation of crypto mining process

There is news available that the project’s infrastructure is almost ready and is staging in the first stance. However, as far as mining is concerned, the firm will be mining only ETH for now. Sources have mentioned that the firm will slowly extend its reach in the crypto domains and mining several other cryptocurrencies. The launch of the entire project witnessed the Ministry of Industry of Nations officials’ presence. They had been there to check every aspect of the project, credibility, and working procedures. It was pointed out by experts like Grupo Neutron, Maximiliano Gonzales Kunz’s CEO, that there exists an emerging requirement for crypto mining projects because they claim that there is a progressive decline in the ground of fiat. 

The news on the fundings for the project

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The 45 million pesos that Grupo Neutron funded helped the company acquire equipment, hardware, firm for building and mining, refrigeration; it also helped in recruiting electrically efficient staff hiring and some other minute requirements of the firm. The great strategy of choosing a place like Mar del Plata as a spot for building the hub seemed a praiseworthy choice and received many positive responses from several investors. Many feel that this place has the perfect environment for building the crypto mining platform. However, now the main area of concern will be energy sources’ cost. 

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Steve Anderrsonhttp://www.thecoinrepublic.com
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.

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