Our colleagues from around the world were able to visit the Whinston plant, located in Texas. With its 38,300 computers, it is one of the largest Bitcoin mining farms in the world. Eventually, this site will have an electricity consumption of 700 megawatts, almost as much as half a nuclear reactor.
As you may know, the United States has become the new El Dorado for Bitcoin and cryptocurrency miners. In May 2021, China decided to drive miners out of the country, considering mining activities dangerous for its economy and its carbon footprint. In addition, the Middle Kingdom still plans to launch its own virtual currency, which will be issued and supervised by the country’s central bank. It was also tested during the 2022 Winter Olympics in Beijing.
And while China alone accounted for 75% of global mining, the United States went from 4% to 35% in 2021. And this share has only increased since. The US government is also part of this openness to Bitcoin and cryptocurrencies, as evidenced by the recent creation of the digital dollar.
In September 2021, we mentioned in our columns this mining company which got its hands on an old coal plant to supply energy to its mining rigs. It was nothing compared to the site of Whinston in Texas. Our colleagues from around the world were able to visit this gigantic Bitcoin mining factory, the largest in the country. With 38,300 computers running night and daythe company led and founded by Chad Harris produces Bitcoin industrially.
700 megawatts, the equivalent of half a nuclear reactor
In total, the American company has accumulated 5,783 tokens, a nice envelope of around 230 million dollars, or 208 million euros with a Bitcoin price fixed at around 40,000 dollars. The employees who work there are also paid in Bitcoin. The facilities are huge: seven hangars 300 meters long (three are under construction), 38,300 computers, and a experimental system which consists of immersing thousands of PCs in a special oil to reduce their temperature and thereby increase their efficiency and output.
As you can imagine, the Whinston site is particularly energy-intensive: with an electrical capacity of 300 megawatts, the plant expects to reach in the coming months the 700 megawattsthat is the energy consumption of a half nuclear reactor. For the mayor of Rockdale, the city in which Whinston is located, this is not a problem, quite the contrary.
Thanks to the plant’s electricity exchanger, the site pumps the electricity produced in abundance in Texas, whether by gas, solar or wind power. In the mayor’s opinion, this impressive farm even plays a crucial role in balancing the Texas electrical gridsince it absorbs energy when it has negative prices, especially in times of overproduction: “They take the excess electricity, otherwise nobody uses it and it disappears. It does not degrade anything at all”, assures the politician, himself a fervent defender of Bitcoin.
However, the high yield of the Whinston farm could soon be damaged by the war in Ukraine, especially if it causes a sustained spike in electricity costs.
Source: The world
