Byron Bay becomes Australia's Bitcoin Mining: Report
Byron Bay becomes Australia's Bitcoin Mining: Report
The company Mawson Infrastructure Group listed at Nasdaq has reportedly received a partnership with Quinbrook Infrastructure Partners in order to build one of the largest Bitcoin mining companies Australia. It will be in the beach town of Byron Bay and will use 100 % renewable energy.
Australia aims at Green BTC Mining
Byron Bay is not only one of the leading tourist hotspots in Australia, but could also become the center of the country's Bitcoin mining. A recently Test report reads that the new facility, thanks to the Mawson Infrastructure Group, will add around 0.4 Exahash to global cryptocurrency mining.
Quinbrook Infrastructure Partners-an American private equity company that invests in low-carbon and green initiatives-will use renewable energies for mining.
That was the key to the deal that we were ready to make this cut at peak load times of the network. Our ability to easily switch on and off, reduces the overall current costs and enables us to get more electricity back on the net. " -explains James Manning-Managing Director of Mawson Infrastructure.
Interestingly, the news came days after the Senate Committee for Australia had proposed as a technology and financial center (ATFC) that local Bitcoin miners should receive a tax estate of 10% if they use renewable energies.ready for further expansion
Manning added that his company recently bought 4,000 other ASIC-Bitcoin miners (Application-Specific Integrated Circuit). The investment is intended to increase the operating capacity by 11.7 % by mid -2022. Therefore, the top managers hid his ambitions to extend the reach of the Mawson Infrastructure Group to the rest of the continent:
"We now have a lot more infrastructure available and we would like to build more in Australia, and the tax incentive helps us to transfer part of it to Australia."
Aussies open for crypto
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