Canadian Ghost Town Takes Up Bitcoin Mining To Better The Lives Of Citizens

Sep 5, 2018 at 12:07 Update Date :Sep 5, 2018 at 12:07 UTC

The small Canadian mill town of  Ocean Falls with a population of 100 people sits dormant in British Colombia. The Town is now known as “Ghost Town”. In 1966, the city had a plant that printed news, has been shut down which resulted in the hard economic conditions. The town has another trend of mining bitcoin. Some people think over there that Bitcoin Mining Boom can help reverse their economic conditions.

Bitcoin miners think of themselves as the soldiers of fortune. Local residents of the city go on the adventure across the world in search of new places to mine and make money.

This summer, parts of the factory returned to life. In the place of the once-humming buzz has now turned into a blackout murmur of computer parts. That is because of a blockchain startup has chosen to set up shop in Ocean Falls.

Ocean Falls Blockchain was attracted to the zone on account of its plentiful hydroelectricity. Powering the old plant was a dam that is as yet equipped for generating around 13 megawatts of power.

The business visionary behind Ocean Falls Blockchain is Kevin Day. Day approached Brent Case, the operations director of the firm who claims the dam, in 2015. He had the plan to construct a mining activity in the town, but without the technical learning and associations of somebody like Case making it the truth was a different story.

Both of them have spent over two years changing a big room in the old factory into a mining office. This included negotiations with the proprietors of the dam, Boralex. When they agreed on a rate, the hardware could be bought. At last, when all was done, the mine began working in July of this current year.

Case was excited by the possibility of breathing new life into the town and spending a portion of the power that is going spare. However, since data centres require negligible upkeep after their initial set up, it is unclear exactly how the business will affect the town.

All things considered, there won’t be hundreds or thousands of workers in Ocean Falls. This implies the nearby economy may not see quite a bit of an effect by any stretch of the imagination. Granted, some will be required to move to the town, however, barely in the numbers expected to kick begin such an overlooked town once again. Maybe places like Ocean Falls are bound to remain ghost towns, regardless of their part in advancing decentralization and security on the Bitcoin blockchain.

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