New York
Bitcoin mining has remained a controversial aspect for many governments who deal with extensive power output as a result of the activities, as can be seen last year in Venezuela and with the Chinese government threatening to reduce power accessibility to miners. This is mainly because the difficulty of each block is increasing and therefore the amount of energy in Kw has increased to capacitate the task. However now the financial capital of the United State has made headlines with their decision to allow mining activities in the state.
The New York Power Authority has delegated over 15,000 Kw of energy to Bitcoin mining organisation Coinmint in order to revitalize their industrial economic in the surrounding areas of the major city. The donation will be used to provide a considerable amount of computing power to Coinmint's operations, and will help to expand their mining protocols considerably. The company aims to locate it's new business in Messena by converting an old industrial metal smelting plant into their HQ - a rather artful symbiosis of past and future mining in my opinion. They will invest $165 million into the growth to create 150 jobs for the area and 180,000 new mining systems to scale effectively for a projected 15% market dominance.
The area of Messena has been chosen as it has a great source of cost effective hydroelectricity, of which electricity is leveraged for the betterment of the local economy. This new operation will significantly reduce the benefit the community sees from the hydroelectricity, but will see this compensated for in terms of exponential economic development. North County Data Center has estimated that 150 skilled IT, electrician, installer and operational job opportunities can be created as a result of the venture and all of them will be hired from the local area with salaries averaging $46,000 - consistent with the state average.
UNICEF Calls Upon Miners
Global charity UNICEF has encourage gamer's and miners all over the world to donate their computing power and time over the next two months to mine Ethereum, and then using the mined coins donate them to Syrian refugees and citizens. The 2 month GameChangers program is designed to use miners hardware to mine the cryptocurrency and then donate it to the fund,a first of it's kind for the charity in question. Funds raised will be used to provide food, drink, shelter and education for disadvantaged youths. Blockchain and cryptocurrency has been benefiting charity for some time now through the Pineapple Foundation, but now major charities may use it as an option to incentivize younger people to donate and extend the base of people able to donate to their cause.
Cryptocurrency mining is going to be a crucial part of the market in upcoming years as it will determine circulating supply and the distribution of a cryptocurrency. Many companies will build industries around this so it's positive to see that Government and charities alike can see the benefits for conducting such activities and are making an effort to compliment local economies and international issues through it. ASIC chips and GPU hardware are correlative underlying assets to cryptocurrency mining, and sales for such products rising are indicative of a new market trend that will be just as important to the sustenance of the market as the blockchain companies behind crypto's.
Check out this post about Vitalik Buterins donation to a progressive medical charity below, and follow the link to GameChangers if you want to take part in the mining.