https://safirsoft.com A 124-year-old hydroelectric plant is using its power to mine bitcoins

The Mechanicville Hydroelectric Power Plant, near New York, Albania, is the oldest still operating renewable power plant in the United States. Today, this equipment has mainly been used since 1897 to operate a bitcoin mining farm.

In the 1980s, the National Grid was considering closing the plant, and the Albanian engineering company agreed to operate the National Grid under a 40-year lease if it were to be purchased. It took seven years for Albany Engineering to get all the appropriate licenses, and the moment they got them, Grid pulled out of the deal.

“The National Network called me the next day and said, 'We will not honor this contract. And if you don't like it, bring it to the judge," Cem Pasha, Albania Chief Engineering Officer of the Albanian Federation told The Times. And he did the same.

https://safirsoft.com 124-Year-Old Hydropower Factory Mining Bitcoin

This factory was built in 1898.

A decade later, they came to an agreement, And the national grid had to give up ownership of the factory and pay for its repair.After the fire and flood, the chaos wreaked unchecked.The factory reopened in August 2003.

But this year, Albanian engineering started using some of its own electricity. When they sell To Grid, they charge about 3 cents per kilowatt-hour, but when they mine bitcoins, they earn three times that amount. “We do it ourselves and give it a try,” Pasha said. “We buy used servers.” Every weekend, Pasha benefits. of Bitcoin rather than curb it.He says he'd rather sell renewable electricity to real people, but building a historic power plant isn't cheap.Image credit: Paul Bukowski, Albanian Times Union

A 124-year-old hydroelectric plant is using its power to mine bitcoins
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