Following such places as Quebec and New York, the latest location in North America to attract large Bitcoin mining operations with a cheap supply of electricity is Colorado Springs. A miner has paid $13 million to convert an abandoned Intel chip manufacturing complex into an industrial mining farm.
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New 85,000 Square Feet Mining Operation
3G Venture II, a California-based company, has paid $13 million for a big chuck of an abandoned Intel chip manufacturing complex at Garden of the Gods Road in Colorado. The owner of the company, John Chen from Los Angeles, reportedly plans to use the facility to mine bitcoin. The deal includes 30 acres and over 700,000 square feet in several buildings, with bitcoin mining planned for three buildings, totaling about 85,000 square feet, and the rest planned to be leased to others.
Michael Palmer, a broker with Quantum Commercial Group who marketed the real estate, revealed that the electricity network installed for Intel’s needs was especially alluring for the miner. The complex includes an on-site substation, two separate power feeds, and the new owner also asked Colorado Springs Utilities to increase capacity to the site, he said. Besides that, the location’s cheap energy prices have long attracted companies to enter the area, including for establishing data centers by Progressive Insurance, FedEx and Walmart, according to the Colorado Springs Gazette.
One Mining Farm Is Enough?
Earlier this month we reported about a town in New York that welcomed a new giant mining facility at a former aluminum smelting plant. The main reason for that was the promise of over 150 jobs that were estimated to be added to the local economy as
