CryptoWallCity vs MEXC Exchange

Texas Welcomes Switzerland-based Cryptocurrency Mining Company, White Rock

Switzerland-based cryptocurrency mining company White Rock Management is spreading its wings in Texas. The mining company is eyeing expanding its operations across the United States, starting with Texas in the Brazos Valley region.

White Rock announced on Tuesday that it will partner with Natural Gas Onsite Neutral (NGON). NGON takes natural gas and burns it to convert it into energy that will be used by White Rock for its cryptocurrency mining operations. The company claims that it will use responsible and eco-friendly methods to mine BTC.

Environmentally friendly methods will help reduce methane emissions and reduce fossil fuel use by switching to more environmentally friendly methods.

The establishment of White Rock in Texas is part of a larger expansion

Setting up the company in Texas was just an initial step, part of a much larger expansion plan. This is to expand its operations in which the company can use natural gas to convert and use it as energy for its operations.

The business has announced that its US operations will initially have a capacity of 3 megawatts, aiming for the company’s overall hash rate to be over 1.6 EH/s. The company started mining cryptocurrencies in data centers in Sweden in November 2021.

The drop in the price of cryptocurrencies amid a bear market has affected miners’ profits. Some miners like Bitfarms are said to be selling their mined BTC and holdings due to extreme market conditions.

It is currently unclear how White Rock’s exact revenue model and plan to survive the bear market with the factory opening in Texas are. The company is also planning to expand into Europe, Latin America and North America. It is also looking to capture potential M&A opportunities in the industry.