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In Australia, there will be a large enterprise for mining crypto-currency

The project is estimated at 142 million dollars.

08.May.18 6:00 AM
By Shawn Highstraw


In Australia, there will be a large enterprise for mining crypto-currency
Australian companies IoT Group and Royalti Blockchain Group decided to join forces to implement a major project. The partners agreed to establish their own enterprise for the extraction of digital currencies.

According to CCN, the so-called "blockage complex" will be located on the territory of the Hunter Valley. The facility will receive energy from a coal-fired power plant that has not operated for more than three years. By the way, the transaction value exceeded $ 142 million.

It is important to note that it will be possible to proceed to the mining only after Hunter Energy owns Redbank's power station and then puts it into operation. If everything goes according to plan, IoT Group will be able to use energy to produce crypto currency at low prices.

Representatives of the Australian Stock Exchange clarified that the purchase of the power plant by Hunter Energy is a prerequisite for the execution of the transaction. Decision on this issue is expected by October 1 this year.

Earlier we informed that ordinary citizens will feel themselves a miner: for this purpose a special simulator will be created. The authors of the project collect funds for its implementation.

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