Cryptocurrency Company Chooses Texas Brazos County for Mining Location

Swiss-based White Rock Management will soon start working on a facility to mine bitcoin in Brazos County. The company says it will have a capacity of 3 megawatts of electricity. It will be powered through by-product natural gas from active oil wells located onsite. Another bitcoin miner, Argo Blockchain, is up and going on its Dickens County 200-megawatt data center.

A recent market collapse has seen the price of the cryptocurrency coins plummet, with Bitcoin dropping by more than 30% over the last month. A trade publication stated the raw cost of mining is $22,000 per Bitcoin, and can go as high as $30,000. The price has dropped below $20,000 recently.

Despite the price volatility, White Rock’s Andy Long is moving ahead, “Our US facility perfectly complements our Swedish 100% hydroelectric powered sites, and we see a great deal of opportunity in the current turbulent market conditions.”