A Look Inside A Cryptocurrency MinePosted: Updated:
Hundreds of computers run night and day. Each one is basically a little supercomputer. They work on solving the complex equations that cough up cryptocurrencies like Bitcoin. It's happening right now in a warehouse in the Massena Industrial Park.
“Right now, Massena has the capacity to be the Silicon Valley for cryptocurrency,” said Tina Barksdale, Skynet Digital spokesperson.
More than a dozen people work at Skynet Digital. Basically it's all about monitoring the stacks of computers. Any problem occurs, it has to be fixed. Cooling is also a huge job. The cold climate helps. The mining is being done for Ormeus Coin.
"I think what most people in the local community should understand is that this is the way the future of money going,” said Tina Barksdale.
Skynet Digital is not the only cryptocurrency miner in Massena. Coinmint has leased the former Alcoa East smelter. Blockchain Industries wants to buy town land to build on. Local officials are cautious.
“It's a learning curve and we are learning, but we are finding out about it. And we want to make sure it's here to stay. And we certainly hope it will,” said Steven O'Shaughnessy, Massena town supervisor.
The profitability of cryptocurrency miners depends on the cost of electricity. Some have asked the New York Power Authority for discounts.
“It's basically a gold rush. The gold that is here is the hydro-dam. It's the power and the cheap electricity that's here," said Tina Barksdale.
Skynet Digital is small but wants to grow bigger. Elijah Barksdale is managing it. He, six brothers, and his sister are all working for the company. They were raised in Richville.
“We're from upstate New York and we understand the job disparities of this area and we wanted to be able to bring something back to the community,” said Tina Barksdale.
Skynet Digital is training a people for that something bigger. It mines cryptocurrencies for Ormeus Coin, which is making a play to become one of the world's top 10 cryptocurrency miners.