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
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: