{"id":401462,"date":"2019-10-15T22:00:23","date_gmt":"2019-10-15T22:00:23","guid":{"rendered":"https:\/\/wncen.com\/?p=401462"},"modified":"2020-10-07T11:27:00","modified_gmt":"2020-10-07T11:27:00","slug":"could-texas-become-the-western-home-of-bitcoin-mining","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/could-texas-become-the-western-home-of-bitcoin-mining\/","title":{"rendered":"Could Texas Become the Western Home of Bitcoin Mining?"},"content":{"rendered":"

A San Francisco-based cryptocurrency startup has just announced that is has raised $50 million from investors. Layer 1’s aim is to operate an all-in-house Bitcoin mining facility in West Texas.<\/p>\n

Layer 1 hopes to control all aspects of the mining process itself. This will include chip production and advanced cooling techniques to make the scheme viable in the heat of a Texas summer.<\/p>\n

Major US Bitcoin Mining Operation Could Result in Greater Network Decentralisation<\/h2>\n

Layer 1 first launched late last year. According to a report in Fortune<\/a>, it was described at the time as an “activist fund for cryptocurrencies”. It raised around $2.1 million from US entrepreneur Peter Thiel, the Digital Currency Group, and the late investor Jeffrey Tarrant. The project’s focus was believed to be investing in crypto protocol development, such as the anonymity-preserving Grin<\/a> project. There was no mention of any aspirations in the mining sector, however.<\/p>\n

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Hello, Bitcoin.https:\/\/t.co\/wNLHAvdyDu<\/a><\/p>\n

— Alex Liegl \u26a1\ufe0f (@alexanderliegl) October 15, 2019<\/a><\/p><\/blockquote>\n