This post was published at Kitco NEWS
There is a new Gold Rush 2.0 currently underway across the world, and prospectors have their eyes set on Winnipeg City in Manitoba, Canada.
In 1848 through 1849, the news of gold quickly spread around. People from Hawaii and Latin America were the first to hear the breaking news. Next came the rest of the U. S., Europe, Australia, and China in 1849, as the peak rush was seen in 1852, after gold reserves became harder to mine. The buzz around bitcoin is similar, although information dissemination is now much quicker and as the euphoria of bitcoin mining spreads across the globe, many cryptocurrency players have started their descent onto Manitoba in search of cheap power for their digital mining operations.
The gold rush ushered in the development of California in the 1850s and ultimately it became a state. Roads, churches, schools, and entire towns were built, to house the gold miners who sought nothing more than to extract the yellow metal from the foothills. A similar fate may await one Canadian city.
CBC News has learned that international investors have had interviews with ‘commercial real estate companies, economic development organizations, cryptocurrency industry players and Manitoba Hydro,’ who view the area as a ‘top-tier location’ to open up a mining shop. CentrePort Canada, North America’s largest inland port, offers 20,000 acres of cheap commercial land in Winnipeg, says early interest from Asian investors and South American companies who want to mine cryptocurrencies is currently underway. CentrePort president and CEO Diane Gray said, ‘we’ve had inquiries from very large non-Asian companies, some of which have roots in North America and are looking to expand significantly.’
This post was published at Zero Hedge on Dec 22, 2017.