LOS ANGELES, Sept. 3, 2014 /PRNewswire-iReach/ -- The Hashrackpower.com (HRP) Bitcoin hosting center will open in Michigan with aims of lower hosting cost for professional Bitcoin miners. The building has 2.7 megawatts ready and another 6.0 MW at property edge making the total available power 8.7 MW. The original project started as a Bitcoin mining pool www.bitcoinmininggroups.com but as mining progressed the clear goal has become to find a much cheaper power source, and in the process of looking for hosting centers we found most solutions were expensive, required long term commitments and level 3 or 4 data centers for Bitcoin mining is overkill and expensive so www.hashrackpower.com will organize a co-op style hosting center to house their own Bitcoin mining as well as other equipment for the lowest possible cost. Service elements will be in place, such as high security, monitoring, carrier grande Internet, climate control, live remote hands by experienced IT personnel 7/24 service and the whole 60,000 of space covered with high powered industrial air conditioning and air balancing equipment power that will be ducted to the mining equipment. Mining at cooler temperatures significantly improves performance and mining speed. Hash Rack Power (HRP) aims to form a co-op, in the first phase (250 kW). The first phase will be sold in a co-op form with the goal of lowering even the $60 x kW month cost and it can be done with sufficient member participation. Michigan is land of opportunity in terms of industrial buildings with heavy power grids left over from the Detroit boom years. HRP indicates they also negotiated a special deal for power with the local utility to buy wholesale power at almost cost rates. This means HRP will use power from the local utility, but will also access as much power as needed from the de-regulated open market or the cheapest seller at wholesale open market prices via our utility that provides access to these low costs open market power rates and delivery. HRP is initially only taking 50kW and larger members. A stock interest % block in HRP company will be awarded to approved co-op phase 1 members that join HRP with 50 kW of use or more. Once the first 250 kW minimum group is assembled as a founding group, the co-op phase will start and a more "for profit model" will follow to host more mining operators with possible rates for the rest of the market of $79 to $89 x kW month. The property has additional acreage for future growth.
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Media Contact: Veronica Guzman, Hash Rack Power, 313-986-1018, hashrackpower@gmail.com
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SOURCE Hash Rack Power
