Local Business Mining Cryptocurrency

Market Is Volatile, But Money Can Be Made from Digital Currency

HERMANTOWN, Minn. – There has been a lot of talk about bitcoin and other cryptocurrency recently.

Now, there’s a business in the Northland where that currency is mined and released into the market.

One of the owners says his business can be very profitable after an investment in computer hardware is made.

“Duluth is an excellent place to mine cryptocurrency because the electricity is inexpensive and the temperatures are cold nine months out of the year so that takes care of our two big issues, which is electricity and heat. It’s very easy to bring in cold air and keep our machines cooled,” said Seantayah Hiwe, Technical Director of Miner’s Revolution, Inc. in Hermantown.

He says the market is volatile but many kinds of cryptocurrencies have greatly increased in value over the last year.