Chinese Company May Turn US Defense Department Facility Into Mining Center
The team of the holding company Wuhan General Group (China) entered into a dialogue with representatives of the US Defense Department on the transformation of the object of the military department into a center for crypto mining. Information about this was published in a press release of the Chinese company.
If negotiations are efficient, the first mining equipment will be installed at the end of October, and the mining farm will be fully operational within the next few months.
The representatives of Wuhan General Group are attracted by low prices for electricity in the country, moderate climatic conditions, and the high-speed Internet, which is of decisive importance for the crypto mining.
The data processing center of the Defense Department with an area of 16.7 square kilometers and a capacity of 3 megawatts has a place for up to 1,300 mining machines, and after its planned modernization next year and bringing the capacity to 30 megawatts it will be for up to 12,000 units. According to preliminary estimates of Wuhan General Group, 1300 units will be able to produce cryptocurrency for $3.5 million per month at the initial stage.
The company's team planned to start negotiations with the US military department a few months ago, but with the slowdown in the crypto market it had to wait and change the strategy, Wuhan General Group's CEO Ramy Kamaneh stated. The current market state, in his opinion, allowed to return to the idea of creating a mining center.
As previously reported, a mining farm will help to revive the city of Ocean Falls in northern Canada.