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Houston’s Pleasant Valley Plaza to host information session about bitcoin

Locals will have a chance to ask questions about the proposed farm
A cryptocurrency facility proposed by Miningsky Technology Ltd. would be located at the former site of Houston Forest Products on Morice River Road. (Submitted image)

Local residents will soon have a chance to learn more about cryptocurrency and ask questions about the proposed bitcoin farm in Houston.

The Pleasant Valley Plaza will be playing the documentary ‘Banking on bitcoin’ on a date soon to be announced.

According to Pleasant Valley Plaza’s general manager Rebecca Tait, the public will have a chance to ask questions about cryptocurrency and the proposed farm in Houston to a representative from Miningsky Technology Ltd. after the movie.

The blockchain infrastructure company is interested in setting up a bitcoin farm - which would generate cryptocurrency using shipping containers filled with computers - at the former site of Houston Forest Products.

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Miningsky applied for the permit in late March to locate as many as 10 shipping containers to the site. According to a land use application obtained by Houston Today, the company considers shipping containers a good alternative to ordinary buildings.

“It is quicker to use sea cans [containers], rather than to build buildings,” the document states. “We would like to increase our sea can amount from two to 10 within six months.”

Last May Houston council issued a development variance permit to allow the company to use up to 10 shipping containers.

According to Miningsky, employees would be present to monitor and maintain operation of the Houston facility; however, it’s still unclear how many jobs will be created.

“I think that it is unfair to promise numerous jobs until we are further along; we are still very much in the planning stage at this point,” said Scott Young, managing director of Green Valley Mine Incorporated – a company that has recently announced a share exchange agreement involving Miningsky - last May.

“We have hired some local labour, only on a needs basis so far,” he continued. “I don’t know how many [jobs will be created] in the future… it depends on our client base.”

Young added he believes bitcoin is the future of world currency.

Cryptocurrency — digital money that can be exchanged for goods and services online or for hard cash, but isn’t linked to any physical resource or central authority — has risen dramatically in popularity over the past few years.

Bitcoin — the most well-known form of cryptocurrency — was created in 2009 and currently trades at approximately US$6700 per unit, down from a peak of more than US$20,000 in December 2017.

The Pleasant Valley Plaza event starts at 7 p.m., and cost to attend is $5.

– With files from David Gordon Koch