Business & Finance

Valatie Falls, New York Hydroelectric Dam to Power DPWs Owned Crypto Mining Subsidiary

Our planet is being affected acutely by the increasing emission of greenhouse gases by the second. Many of the crypto mining farms have taken an initiative to minimize the calamitous impact of consuming coal based power. Recently DPW holdings, made the announcement that it will be utilizing the Valatie Falls, New York hydroelectric dam, to power its wholly owned super crypto Mining subsidiary. Earlier this year in March, the dam was purchased by Valatie Falls hydro, LLC that was financed by the DPW’s subsidiary Digital Power Lending in the form of a loan. The total power generation capacity of the dam is 1 megawatt.

The goal of purchasing this renewable energy producing project is to be able to provide a sustainable platform to generate clean electricity to power the mining rigs. Hydropower is one of the most effective of all the renewable sources of energy which includes geothermal, wind, tidal and waste energy. It produces a little to no carbon print at all. DPW Holdings’ CEO and Chairman, Milton “Todd” Ault, III stressed over the importance of a sustainable power generator to power their own crypto mining farm.

Our successful repurposing of Valatie Falls dam to provide clean, low-cost, renewable power to Super Crypto’s future co-located mining farm is another important step in our strategy to create an economically viable, self-sustaining cryptocurrency mining business.

The CEO also lay emphasis on how the dam being exclusively used for powering crypto mining facility provides an opportunity to DPW as well as its subsidiaries. The engineers from Coolisys have played a vital role in renovating the dam. He said,

This project provided a unique opportunity for DPW subsidiaries to collaborate and innovate to create a new model for cryptocurrency mining, for which electricity is by far the largest operational cost factor.

The dam was built in 1983 and was purchased only this March. It was refurbished, upon being purchased, by the experts in the field. The CEO added on,

Our power solution engineers at Coolisys Technologies, Inc. worked closely with our cryptocurrency mining engineers and with Valatie Falls Hydro, LLC’s hydroelectric engineers to upgrade and retrofit the Valatie Falls dam for this exciting new phase of its long-lived operation.

The farm that is to be powered by the hydroelectric dam is being installed with the proprietary “Anteater” miner. This crypto mining unit was launched in June by Coolisys and was introduced in an effort to keep up with the growing competition.The teams of Samsung and Innosilicon were involved in the development of these chips. Many of the other mining rig manufacturers have been providing enhanced chips with large mining capacity and lower power consumption rates. Their website stated,

The new SuperMiner line and, including the AntEater, is equipped with advanced dynamic frequency and temperature scaling for reliable performance under virtually all conditions. The 10nm mining chip in the AntEater is based on Samsung’s System-on-Chip high-performance computing technology which provides the world’s most efficient ASIC cryptocurrency mining design, with the AntEater operating at 17.2TH/s.

Amos Kohn, the President, CEO and Chairman of Coolisys Technologies also shed some light on the upcoming projects stating,

It is exciting to see Coolisys deliver to the market one of the most advanced mining solutions available. The industry has been anxious to find an alternative to the Bitmain and Avalon duopolies and we believe the SuperMiner line and the AntEater model will be able to satisfy this market demand.

He added on,

When we set out with the goal to bring a new generation of Bitcoin miners to market, we wanted to push the envelope and innovate by developing the AntEater based on a 10nm chip because it was the newest technology available with promising advantages.

Milton mentioned that the new facility would be fully online during the fourth quarter of 2018.

To conclude, the DPW has promised to provide a dedicated low cost renewable energy generating platform that will also house a crypto mining facility. Lately, a lot of reports and research analysts have expressed their concern over colossal consumption of electricity for mining crypto coins. This latest effort to minimize the hazardous impact of carbon print is one of many to rectify the damage that is being done to the environment.

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Habibah Shahid

A Computer Science student but a writer at heart. Habibah writes about Cryptocurrencies and the underlying technology, Blockchain, with the perspective of a Computer Scientist. Email: habibah@blockpublisher.com or contact the editor at editor.news@blockpublisher.com

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