DICKENS COUNTY, Texas — Argo Blockchain’s $300 million “Helios” Bitcoin facility in Dickens County will mine tens of thousands of dollars in cryptocurrency every day and create up to 40 jobs, prompting hope for revitalization in the small community.
“Nine months ago, this was a cow pasture. There was absolutely nothing here,” Argo Blockchain CEO Peter Wall said. “It’s an interesting contrast — rural Texas with this new cutting-edge technology, but it actually kind of works.”
Bitcoin is a digital currency that people can send and receive over the internet. Unlike the U.S. Dollar, it is not centralized in a government bank. Transactions are verified through a complex network of computers around the world called the blockchain.
“For some people, that might sound like Greek,” Wall admitted. “Essentially, miners are servers – high-powered computers that are processing transactions to verify them. So, the transactions are actually fairly simple to keep track of.”
“It’s like a big leger,...
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