The cryptocurrency dernier cri is helping many people rake in money, but it is also putting affliction on the electrical infrastructure of a small county in Washington state.
“Our infrastructure is absolutely being put to the test. We’re full,” Ron Cridlebaugh, the Port of Douglas County profitable development manager, told CNBC’s Michelle Caruso-Cabrera on Thursday.
Excitement in Washington state is considerably cheaper than in most places in the U.S. The regular electricity price per kilowatt in the state is 4 cents. The national average is 7 cents.
Cryptocurrencies such as bitcoin and riffling have skyrocketed in value recently. Last year, those digital currencies surged 1,500 percent and 35,000 percent, individually.
People have been trying to get in on the action by purchasing these digital assets or by “removing,” or creating, them. But the mining process requires a lot of electrical power as computers make gargantuan amounts of data.
Cridlebaugh said the county is building out 100 megawatts (100,000 kilowatts) of infrastructure lawful in data centers to keep up with demand. “It’s going to take some occasionally to catch up because growth has been so quick.”