A Look Inside USA's Largest Digital Currency Mining Farm edited



a new virtual gold rush is underway and this is the equipment the miners are banking on to make them rich bitcoin is a virtual currency that is making headlines and it's making investors millions of dollar okay sir what can I get going for you at the waffle stop in Bellingham customers have a choice on cash cart or Bitcoin i'm going to use bitcoin today they take Bitcoin how much was the lawful it was 6.4 mehleb Bitcoin and that's about five dollars bitcoin is a digital currency that's flourishing yes sir oh look at that but bitcoin is also becoming mainstream he sets a price of 6.4 milla Bitcoin and I scan the barcode and that's what I got think of it as digital cash you can't touch it it's transferred with QR codes from one digital wallet to another instantly as soon as i hit the send button when out on the internet and it was done there's no bank no transaction fees bitcoin is an amazing idea and people are making fortunes we're probably making right now about eight million dollars a month in Bitcoin sounds too good to be true it just may be to understand Bitcoin compare it to full miners trying to find goal before the other guy does bitcoin is the same way but replace the pick and shovel with a computer bitcoins are generated all over the Internet by anybody running a free application called a Bitcoin miner most miners are probably earning fractions of bitcoins Eric Elliot is a small minor just one computer there's not really much technical know-how that you need apart from being able to keep a computer up running twenty-four seven but you don't have to be a programmer when he started in 2011 he earned one Bitcoin a day at the time it was worth about twenty bucks but now the math is harder and like gold bitcoins harder to mine and fine but its value has skyrocketed from twenty bucks in 2011 to over a thousand dollars in December now that got your attention this is a rare exclusive behind-the-scenes look at one of the biggest Bitcoin mining operations ever it's the largest mine in North America and most of the rest of the world the computing power is immense one pitta hash it's a one thousand trillion calculations per second two warehouses with racks of thousands of specially designed digital mining rigs are on each one of these boards there are set of chips each one of those is the one the individual chip calculating Bitcoin so the concept is the more miners more chances of finding that night mcquay exactly there there's a bit of fluff and statistics involved the amount of electricity you're using can run a city well a town certainly you know we're at about 1.4 megawatts and that's why he's set up in eastern Washington where power is stable and cheap mega miners like Dave need to cut costs you can't help but feel the heat yeah it's crazy we agreed to keep his location a secret because he's making a lot of money are you doing okay oh yeah I'm doing fantastic yeah I'm a smiling guy right now when we were there he said his rigs were making eight million dollars worth of bitcoin a month in the Bitcoin world that's a staggering amount this is speculates really not much different than any other gold rush in our guests and then we're absolutely running as fast as we can to grow we believe in the system they're banking bitcoin will be digital gold we will definitely be back with our Bitcoin Matt markovich KOMO 4 News just think i have trouble balancing my checkbook office to jelly yeah all right

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