— Littleton, Colorado-based Colorado-registered cryptocurrency mining company Denver Coin Group has announced plans to start a new cryptocurrency mining operation.
The company has announced it will launch a new mining company called Denver Coin in 2019.
Denver Coin is expected to be the largest cryptocurrency mining firm in the world.
The company plans on utilizing a blockchain technology to help reduce the time and cost of bitcoin mining.
Denver Coin is currently planning on building a new facility in the town of Boulder and expects to be able to build a new bitcoin mining facility by the end of 2019.
The new Denver Coin mining operation will be in Boulder County, Colorado, the company says.
Denver has the largest bitcoin mining capacity in the United States, with over 1.6 million bitcoin miners.
Denver’s announcement follows a decision by Colorado Governor John Hickenlooper to ban new bitcoin and blockchain-based investments from the state.
Colorado Governor John Hopper said in January he is working to repeal HickenLooper’s regulations, which he says unfairly penalize bitcoin mining operations.
Hickenlopper has called for the repeal of the new regulations in an interview with CNBC, saying that bitcoin mining is a “legitimate business activity” that can benefit communities and businesses in Colorado.
“If you look at it from the perspective of the economy, it’s a way to keep up with inflation, to keep people on a tight budget,” Hopper told CNBC.
“It’s really hard to compete with that.
We’re not in the business of stealing people’s money.”
The company announced plans for Denver Coin’s new bitcoin mines in a letter to customers.
DenverCoin will be able utilize the blockchain technology that powers the cryptocurrency mining process to reduce the amount of time and costs associated with bitcoin mining and improve efficiency.
The mining technology is already being used in a number of other cryptocurrency mining projects, including the Bitfinex exchange and the Genesis Blockchain.
DenverCoin plans on using Denver Coin to mine bitcoin, Ethereum, Litecoin and Dash, according to the letter.
Denvercoin is not affiliated with the Denver Blockchain and has no ownership in Denver Coin.
DenverCoin will be launching its Denver Coin mines in the coming months.
The mines will be located at an existing facility in Colorado Springs, Colorado.