The cryptocurrency mining company has moved into the former Buchanan Steel Processing Plant to strengthen its operations.
Powered for high-energy computing, coastal crypt According to company officials, preparations are underway to hire 100 employees.
Coastal Crypto, which relocated from Roanoke, is what co-owner Mark Andersen describes as a “retail store for crypto mining equipment and a host provider similar to a data center for crypto mining.”
The company's former home, an industrial building in Norwich, “didn't have enough power to do what we were trying to accomplish,” but the former Virginia Forge building, which closed in 2016, The plant's Buchanan address can provide just over 5 megawatts of power. When it comes to power, “the sky's the limit,” he says.
One cryptocurrency information source, crypto.com, describes mining as “the process of using computer equipment to verify transactions on a blockchain and earn cryptocurrency in return.”
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Andersen and fellow co-owner John Mazzarella said they founded the company in 2021 with a background in technology, including 10 years in cryptocurrency mining. Coastal Crypto, a small business with two employees, is growing at a rapid pace and its owners expect to employ 100 people. Andersen said he will perform computer, networking and general labor duties. Applicants can contact the company through its website, coastallcryptomining.com.
jeff sturgeon (540) 981-3251
jeff.sturgeon@roanoke.com
