Currency Economy

Hydro plant from 1897 earns 3x as much mining BTC as selling power to the grid

Cryptocurrency3 minutes ago (Jul 10, 2021 01:20AM ET)Hydro plant from 1897 earns 3x as much mining BTC as selling power to the grid

Hydro plant from 1897 earns 3x as much mining BTC as selling power to the grid

New York’s Mechanicville Hydroelectric Plant — one of the oldest hydropower generation facilities in the United States — is now a host to Bitcoin (BTC) mining.

The plant is owned by Albany Engineering Corp (AEC), which was asked to restore it by the National Grid (LON:NG) in 1986. Jim Besha Sr., CEO of AEC, noted that cryptocurrency mining offers triple the profit margins compared to selling electricity back to the grid:

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