The Newport Economic Development Commission (NEDC) in Newport, Arkansas is announcing that three companies involved in cryptocurrency mining are locating in Newport, Arkansas. The unrelated companies will engage in what is commonly known as “bitcoin mining,” although they will work with cyrptocurrencies beyond bitcoin. The companies have selected Newport based in a large part on the availability of excess capacity at local electrical substations. A definition of bitcoin mining by techtarget.com states, “Bitcoin mining is the process of verifying new transactions to the Bitcoin digital currency system, as well as the process by which new bitcoin enter into circulation. Bitcoin is a cryptocurrency that is traded for goods or services as payment.”
GMI Computing will begin operations in the next 30 to 60 days. United BitEngine plans to start in the fourth quarter of 2022. Juice Tech is targeting the first quarter of 2023. Between the three companies, they will employee approximately 45 people at an annual average wage of $50,000 to $70,000. The jobs will include maintenance technicians, security personnel and janitorial staff for each location. Job announcements will be on the NEDC website, www.newportaredc.org, and through online job service programs.
For more details please read the full press release attached.
Original Source can be found here.
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