3G Venture II a mining company based in California recently acquired a sizable portion of an old and abandoned facility in Intel . 3G Venture II will use this facility for mining.
One of the biggest reasons why 3G Venture II purchases this facility is the location of the facility in Colorado Springs which is very advantageous. The Colorado Springs region has a 21% cheaper electricity price than the national average.
The 3G Venture II has purchased an area of 1.4 million square feet of space and 700 square feet of space and 30 million square feet of space for 13 million dollars.
As the electrical infrastructure inside the facility contains a transformer substation and double power supply in the area, this zone is directly connected to the attention of John Chen CEO of 3G Venture II attracted. Such substructures are almost indispensable for crypto mining operations. The business uses ASIC devices for mining, which makes it affordable for the company to move to Colorado Springs with low-cost electricity. ASIC devices, also known as application specific integrated circuits, can produce HashPower, which is much more powerful than consumer-level equipment such as video cards.
In fact, this initiative shows the value of mining in the crypto money world as blockchain's hashrate continues to grow can. Within just 6 months, the HashPower on the network almost doubled, even though the prices dropped by half of the prices on the previous market.
Total HashPower across the entire network increased by almost 2.8 times from 13 EtaHash / second to 37 EtaHash / second. This also increases the safety of the Bitcoin blockchain significantly
Source: Amb Crypto
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