A veritable mine in Washington state is pumping out an estimated $8 million in Bitcoins per month.

Local TV news station KOMO News was given a peek at what the people behind it are calling "the largest mine in North America and most of the rest of the world." Built across two warehouses, the racks of constantly running mining rigs combine to provide a petahash of processing power, at the expense of 1.4 megawatts of electricity, devoted to solving the increasingly complex algorithm that generates Bitcoins. The result is monthly earnings of $8 million in Bitcoin per month, according to the report.

 

Although the location of the warehouse was kept private, it was key to maximizing profits for the mining rig. The area where the facility was built was chosen for its access to cheap and reliable electricity, according to the report.

 

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