Building BITCOIN Data Centers
Bans on crypto-currencies overseas have led to a surge of crypto and Bitcoin-related construction in the U.S., adding more demand in the already booming data center sector, industry. The trend is that more Bitcoin mining is coming to the United States since they've been closed out of other countries. It's not going away…there are way too many people that have too much invested in it to just see it disappear.
Both Russia and China's central banks have proposed a ban on the use and mining of crypto-currencies as of 2021. In addition, counties like Sweden are leading the push for a ban on cryptocurrency mining in the European Union, according to the Financial Times.
Bitcoin mining data centers are not the same as traditional data centers run by companies like Amazon Web Services or Microsoft. A Bitcoin mining center does not have the same level of security, nor would it have the same level of generators or batteries as a traditional data center. For example, a typical large wholesale data center might cost anywhere from $7 million to $10 million per megawatt to build-out, according to CBRE's data center group. While crypto-currency requirements are getting built anywhere from $250,000 to $500,000 per megawatt.
All of that means a crypto-currency mining data center is a simpler project from a design and construction standpoint because preventing downtime is not as critical for a Bitcoin mining center, meaning backup power systems do not need to be as robust.
Texas is leading the way for building in the U.S. with a plan to build approximately 5,000 megawatts of crypto-currency mining data centers by 2023. Other leading crypto construction destinations include Georgia and Wyoming.
Many private equity firms are looking to underwrite these projects along with many local governments determined to get a piece of the Bitcoin construction pie.
If you’re ready to build contact our team of experts at www.BHIbuilds.com