Thread by @AnitaPosch

1/ One of the Oldest Hydro-Power Stations in the US Is Mining #Bitcoin
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https://twitter.com/DocumentingBTC/status/1413134698419789824?s=20

2/ “We think this is the oldest renewable energy facility in the world that’s still running,” said Jim Besha Sr., CEO of Albany Engineering Corp., which owns the Mechanicville hydroelectric station, built in 1897.

3/ After years spent rebuilding the plant that was abandoned by National Grid, it is now back to full power. It is using all the original 1800s machinery, not enough for a lot of profit, which is why some of the plant’s energy is being used to mine bitcoin.

4/ “We can actually make more money with bitcoin than selling the electricity to National Grid,” Besha said. “We’re just doing it on the side, experimenting with it. We’re buying used servers.”

5/ The thousandths of a bitcoin they make each week are converted to cash, rather than holding onto it. Jim Besha is skeptical of bitcoin as a long-term investment; He’d like to make more money selling renewable energy to be used as energy.

6/ But that effort has been marred by decades of fighting with National Grid.timesunion.com/news/article/M…

7/ Although the minted bitcoin are instantly converted to cash, i think this story is a great example of a situation where #Bitcoin enables new creative solutions for a problem.

8/ A historic building could be restored, some workplaces saved and renewable energy is used to mine bitcoin.

9/ Enjoyed this tweet storm?

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