Switzerland, famous for a number of the finer things in life, from its cheese to its chocolate, its mountains to its lakes. Historically, this alpine territory was once a centre for mining gold. The precious metal was once rife through the alps, giving local alpine villages like Gondo a thriving mining industry.
Mineral excavations in Europe eventually died down, leaving towns and villages all over the continent without work. Let’s face it, the industry was dangerous, and supplies became limited, mining in Europe was never a permanent solution.
Well, that’s until cryptocurrency got involved.
Gondo, like a phoenix from the ashes has risen up to a brand-new kind of mining. It’s slowly becoming the epicentre for the Alpine cryptocurrency mining industry. Of late, Gondo had become something of a ghost town. With a population of only around 50 people and little opportunity for work, locals had very little quality of life.
The introduction of a new cryptocurrency mining facility has however breathed new life into the area.
The new facility is around 96M2 in size and contains around 900 Graphics Processing Units (GUP’s) all working together to complete complex algorithmic actions in order to verify cryptocurrency transactions on the blockchain ledger. The century old mining town is back to it’s old mining way, except this time things are a little bit safer.
Due to the success of the first facility, the company ‘Alpine Mining’ are now planning to build a second hub in the area with even better facilities than the first one. Such works would more than double the company’s current outputs.
In order to establish change in the area, this Swiss government have offered incentives to cryptocurrency start-ups, things such as cheap rent and tax relief, designed to encourage more businesses to set up in the area.
Gondo has already reaped some advantage to this new industry, the villages first restaurant opened this month. Considering this is a village without even a school or a bakery, the construction of new infrastructure is vital if businesses like restaurants want to exist here. Moreover, the serene settings offer various different power options, with hydropower being the main target source of electricity for the next few years.
This is yet another example of how cryptocurrency mining can be beneficial to communities. That, paired with the company’s motivation and strive for greener energy goes to show that the crypto-revolution is indeed that, a revolution. There’s a long way to go yet, but, these are the right steps to take to ensure we get there sooner rather than later.
Featured Image Source: Pixabay