As crypto continues to grow in popularity, the need for miners has increased. But power costs associated with bitcoin mining is problematic. This company is seeking to make the process more energy-efficient.
The Crypto Company (OTC: CRCW) announced that it has begun mining Bitcoin, acquiring 215 cryptocurrency miners that will be operating partially air cooled and partially in immersion cooling technology. The company’s press release said the firm is seeking energy efficient bitcoin mining.
The process is done through immersion cooling, allowing the mining rigs to operate in a more more energy efficient manner and reducing the amount of electricity necessary to mine. The cost of power for the company's mining operations is $0.035/kWh.
Shares closed yesterday at $1.74.
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