DPW to utilize the historic 1-MW Valatie Falls dam in order to provide cheap and renewable electricity for a cryptocurrency mining facility that is located nearby.
DPW CEO Milton Ault claims that the Newport Beach-based holding company gives its subsidiaries a possibility to significantly reduce the energy consumption of cryptocurrency mining, which was one of the major concerns during the latest crypto-related hearing in US Congress, according to a recent U.Today report.
The hydroelectric dam is expected to be fully upgraded for mining purposes during the last quarter of 2018.
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