US Based Mining Company Says Texas Is the Finest Place to Mine Bitcoin

Alex Liegl, the CEO of a US-based BTC mining company, Layer1 Technologies, has narrated Texas as offering miners the “cheapest power in the world, at scale.”

Less than two weeks ago, Layer1 started mining operations at its premises in western Texas. The company purchased several 2.5 MW container rigs online.

Texas is the principal creator of wind power in the United States. Texas alone is outproducing the 2nd, 3rd, and 4th-largest wind power producers combined. If Texas were a self-governing nation, it would be the world’s 5th largest generator of wind power on an international level.

In spite of the inexpensive electrical energy, many miners have circumvented the Texas state due to its high temperature. The temperatures in the state often surpass ninety degrees for half of each year. In order to fight the heat, the company’s mining apparatus contains shipping containers filled with miners that are suspended in a non-conductive liquid.

Last year, the company raised fifty million USD from its venture capital investors, led by Peter Thiel alongside Shasta Ventures and Digital Currency Group.