Argentinean Startup Accelerator Launches Crypto Mining Farm in Mar Del Plata

The Technological District of Mar del Plata, Argentina, will host a massive operation backed by a domestic startup accelerator. Lothal Mining is the company that will run the operations of the mining firm in the city.
Firm Will Mine Ethereum During the First Stage
Per local newspaper La Capital, Grupo Neutrón invested almost 45 million pesos ($310,000), and there are plans to allocate additional of 200 million pesos ($2.21 million).
The infrastructure is ready, and in a first stance, the firm will mine ethereum (ETH). However, the company plans to expand to other cryptocurrencies.
The provided by the startup accelerator seeks to acquire hardware, refrigeration equipment, building the mining farm, hiring staff to perform electrical maintenance, among other activities.
Also, officials of the Ministry of Industry of the Nation were in the mining farm to check the project’s launching. Maximiliano Gonzáles Kunz, Grupo Neutrón’s CEO, pointed out that mining is urgently needed in the context that fiat is “tending to lose ground progressively.”
He added:
With this equipment, for example, we can make our processing power available to companies that enter the world of cryptocurrencies and need to transact those operations.
if (!window.GrowJs) { (function () { var s = document.createElement(‘script’); s.async = true; s.type = ‘text/javascript’; s.src = ‘https://bitcoinads.growadvertising.com/adserve/app’; var n = document.getElementsByTagName(“script”)[0]; n.parentNode.insertBefore(s, n); }()); } var GrowJs = GrowJs || {}; GrowJs.ads = GrowJs.ads || []; GrowJs.ads.push({ node: document.currentScript.parentElement, handler: function (node) { var banner = GrowJs.createBanner(node, 31, [300, 250], null, []); GrowJs.showBanner(banner.index); } });
Growing Interest in the Mining Project, Claims CEO
On the decision of picking Mar del Plata as a hub for the mining rig, Gonzáles Kunz praised its strategic location for the technological ecosystem of the city.
Moreover, he believes the synergy created among the startups within the area is the proper environment to set up a project like this one.
Still, the startup accelerator claimed that there is “a lot of interest” in the mining project. On the energy supply costs, Grupo Neutrón’s CEO commented:
We will make investments in infrastructure to guarantee a stable and cheaper supply. (…) We have strategic alliances with Grupo Núcleo and Neutrón. This gives us access to hardware availability at the best market costs, capital investments for the project, and a technological ecosystem that allows us to achieve synergy with different projects in the sector.
What do you think about this new mining rig in Argentina? Let us know in the comments section below.

This post was syndicated from https://news.bitcoin.com/-startup-accelerator-launches--mining-farm-in-mar-del-plata/ and originally written by our friends Felipe Erazo at https://news.bitcoin.com/feed/
Ledger Nano S - The secure hardware wallet

Syndicated from Bitcoin.com