US miners to open large center in old factory, tell it’s profitable at any Bitcoin price

Coinmint plans to open large mining facility in an old smelting factory next to the Canadian border, and one of the leaders of this company has made a rather notable statement. CTO Prieur Leary thinks that mining would be profitable as long as Bitcoin exists.

This contradicts another view expressed by Morgan Stanley analysts. They believe that Bitcoin mining becomes non-beneficial below $8,600. Obviously, there can be a moment when the cost of mining hardware supplies and their service checks becomes bigger than the total amount of coins mined monthly, especially considering the growing algorithm difficulty.

The factory rented by Coinmint belongs to the aluminium giant Alcoa and its total area is estimated to be 1,300 acres (5.260913 square kilometers). One can notice an interesting trend of how miners help old industrial facilities start working again, although in the new capacity.

One of the most prospective similar projects was the Russian mining center in the old building of LAES - a nuclear power plant near St Petersburg. However, Rosenergoatom (the owner of this structure) has demonstrated skepticism in the project shortly after this possibility was announced.

Image: bitcoinminer.com.pk