Bitcoin Rolls into Virginia Beach
After lowering taxes on property and equipment for data centers, the Virginia Beach Development Authority has taken another step to boost the industry, awarding Bitcoin mining venture BCause LLC a $500,000 grant towards a $65m commercial facility.
This marks one of the biggest Bitcoin facilities in the Hampton Roads Area.
The Virginian Pilot reports that once operational, the data center will house thousands of privately owned GPUs as well as lease machines to individual customers.
The company promises to create 100 full-time jobs, with average salaries of $60,000 a year. The Bitcoin mining hardware is in the process of being installed in a converted warehouse, with operations due to launch as early as next week.
Director of Economic Development Warren Harris said: “We’re poised to be a hub for data centers. To reduce that tax has put us in a very, very competitive position.”
Our sister company, DCS Data Centers, previously noted the possible Data Center growth in this area, especially within the Bitcoin market.
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