Layer1 begins mining Bitcoin in Texas

layer1, an investment company now specialized in blasting of Bitcoin and supported by Peter Thiel (co-founder of PayPal), announced the launch of its operations in its new infrastructure at Texas.

layer1 started to mine bitcoins in its 5 hectare park located in West Texas in the United States. The American company aims to become the world number 1 in the mining of Bitcoin in order to shade the current leaders, mainly based in China, like Bitmain and Canaan.

Based in San Francisco, it claims to have developed a revolutionary new system for cooling its machines, which would entail an additional consumption of just over 3% on the entire structure, thereby enabling it to take advantage of competitive electricity prices. the American state known for its arid climate and poorly suited to this activity.

Our factory in the west of Texas game-changer for the bitcoin mining. The installation uses ASIC chips and a liquid cooling technology pending patent, which allows us to mine in regions with warmer climates and benefit from the world's largest supply of sustainable local energy, "said Alexander Liegl, CEO of Layer1, in a press release.

In the short term, the company aims to cover at least 2% of the total hashrate of Bitcoin, and by 2022, almost 30%.

The Chinese giant Bitmain has already been installed in the region since last year.

Also, whinstone – an American firm acquired by the German Northern Bitcoin – is also preparing to open an infrastructure in Texas, which she says will be "the future largest bitcoin mine on the planet".