Crypto entrepreneurs expand Californian ghost town into BTC mining center

Resourceful crypto entrepreneurs have bought Cerro Gordo, a remote 150-year-old ghost town in California. The plan is to convert the abandoned mining town into a crypto and blockchain center.

 

In a 150 year old mining town the following is being dug again

The investors had already bought the city in mid-2018 – for 1.4 million dollars. According to a CNBC report, this is a ghost town of 22 buildings 150 years old. Cerro Gordo is located about 200 miles north of Los Angeles near Death Valley National Park, adjacent to the Inyo Mountains of the Owen Valley.

Now it belongs to two young entrepreneurs: Jon Bier, owner of the PR and communications agency Jack Taylor PR. And Brent Underwood, host and founder of the HK Austin hostel in Austin, Texas. Brent is also a partner in the creative consulting and marketing firm Brass Check.

 

The entrepreneurs’ goal is to transform Cerro Gordo into a modern travel destination while preserving the flair of the old mining town. Of course, tourists can make payments in Bitcoin and other crypto currencies.

In fact, Taylor and Brent’s vision includes the integration of Bitcoin and the underlying blockchain technology to make Cerro Gordo a focal point for the crypto community. Visitors will be able to trade goods and services.

The entrepreneurs are also planning to set up a crypto mining center in an old mine shaft about 1,100 feet deep.

 

In addition, innovative water protection technologies are to be used and the necessary energy from solar energy and other renewable energy sources procured.

 

Investors still consider crypto mining lucrative

Despite Bitcoin’s price fluctuations and the fact that more than 80% of the coins have already been mined, entrepreneurs still see crypto mining as a lucrative business. In this context, abandoned and remote regions of the world seem to be the focus of many investors.

 

Last year, BitRiver started a mining operation near Bratsk in Siberia. Today, BitRiver is the largest Bitcoin miner in Russia. In this company, Russian billionaire Oleg Deripaska combined crypto mining technology with one of the largest aluminium factories of the Soviet era.

Comparable: “Dmitri Marichinev’s Russian Mining Company” (RMC) explored the Nadvoitsky aluminium smelter (NAZ) in Karelia in an effort to boost Bitcoin mining throughout Russia.

 

The conversion of old aluminium plants into crypto-industrial centres is also of interest in the USA. Last October, Bitmain, the operator of the world’s largest crypto currency mining pools, launched a 50 MW mining farm in Rockdale, Texas. Bitmain’s goal is to make this farm the largest mining facility in the world.