First Look as Adam Weitsman Units Up Owego Crypto Mining Farm

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Businessman Adam Weitsman is spending thousands and thousands of {dollars} to launch a cryptocurrency mining website in Tioga County.

Weitsman has acquired an enormous industrial constructing within the city of Owego to function the location for the brand new facility. The property, which had been utilized by Harvard Customized Manufacturing, was owned by an entity managed by the Matthews household.

The primary of 1000’s of crypto “mining rigs” have been put in contained in the constructing which is situated subsequent to Weitsman’s steel recycling facility off Route 38.

A brief setup of cryptocurrency mining models in Owego on December 17, 2021. (Picture: Bob Joseph/WNBF Information)

Weitsman stated the operation, which is able to be developed over the following yr, will mine bitcoin and three different cryptocurrencies.

Talking on WNBF Radio’s Binghamton Now program Monday, Weitsman estimated the short-term funding within the mission at about $25 million. He stated “I might see it ramping as much as possibly $100 million… one thing like that.”

Adam Weitsman throughout a “Binghamton Now” radio interview on December 20, 2021. (Picture: Bob Joseph/WNBF Information)

Weitsman stated he expects it’s going to take one or two months to get the primary 2,500 miners attached. He stated the preliminary work has gone easily.

Photo voltaic panels are to be put in on the roof and in a discipline behind the constructing to assist energy the operation. Weitsman stated he is planning to make use of “one hundred pc renewable vitality” for the power.

The positioning in the end might home between 30,000 and 35,000 mining models.

Contact WNBF Information reporter Bob Joseph: bob@wnbf.com.

For breaking information and updates on growing tales, observe @BinghamtonNow on Twitter.

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