Bitcoin

The Power of Bitcoin Mining in Oklahoma

The Power of Bitcoin Mining in Oklahoma

(Mike Allen)

So it looks like Pryor struck goldor digital gold I guess, with the announcement last week that computer software company Northern Data plans to build its North American headquarters in MidAmerica Industrial Park in Oklahoma.

Among the company’s current services is providing infrastructure for bitcoin miners. And, as you may have heard, cryptocurrencies are kind of big business right now, both domestically and globally.

Why Pryor, Oklahoma, you ask me? Well, bitcoin mining takes a lot of energy to do at scale – a huge amount, really. A A British study found that each bitcoin transaction requires about $176 in electricity.

Pryor’s MidAmerica Industrial Park happens to be a customer of the Grand River Dam Authority, the utility that provides reliable, low-cost power to municipalities and businesses.

A quick look at the Northern Data website shows that this kind of service isn’t necessarily what they want to do in the long run, or at least it doesn’t seem like such an important part of their business model going forward. Other items listed include cloud computing, quantum computing, and the development of artificial intelligence for…computing. Interestingly, a debate prepares to find out whether advances in quantum computing could possibly break cryptocurrency blockchains.

So how important will Northern Data’s new North American headquarters be to our state? I’m not sure most people will think about it next week, but the development will be something to watch as an indicator for future tech companies looking to expand within the borders of the State. Perhaps the federal government will claim that they alone have jurisdiction to regulate bitcoin mining in Indian country? Personally, I’m just wondering if I can game on the Northern Data platform.

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