China's largest filecoin mining farm

Filecoin is booming in China. The construction of a large mining facility is now planned.

The Chinese blockchain consortium IPFSUnion is planning to build a huge facility to mine Filecoin. It is supporting the construction of the Jiangxi Big Data Industrial Park with a “large investment”.

The amount of the investment was given on the Internet at 1.3 billion US dollars. Meanwhile, the number has disappeared from the announcement blog post on the Filecoin website. What is certain, however, is that the planned plant has the blessing of the Chinese government. A local industrial fund also contributed $ 15 million to build the mining center in the city of Fuzhou, eastern China.

The largest filecoin project in China

The IPFSUnion is a consortium that specializes in cloud services and distributed file systems. Members include the Chinese retail giant Alibaba as well as large tech companies such as Microsoft, SAP, Huawei, and AMD. The association has been participating in the crypto space since 2016. A special focus is on the IPFS protocol for data exchange, which also forms the basis of the Filecoin ecosystem. With cryptocurrency, users can automatically rent out free storage space. The Filecoin course has gone through the roof in the past few months.

The mining center should therefore also be a large facility for data storage. IPFSUnion would like to set up 100,000 to 150,000 servers and is planning to build a production facility to manufacture additional network computers. The consortium also claims to be working on the development of a cloud service for the industry. One wants to push the prices down to a tenth of what the competition demands.

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