San Antonio venture joins Texas’ bitcoin gold rush

    Bitstream Mining, a new cryptocurrency-mining venture based in downtown San Antonio, is building a cryptocurrency “mine” in the Permian Basin, backed by $3 million in capital funding from parent company Ecoark Holdings.

    A cryptocurrency mine is an array of computer servers that competes against other computers across the globe to solve complex math problems that require specialized computers and immense amounts of electricity. The more computing-power put into a mine, the more money a mine stands to make.

    The venture is part of a modern-day gold rush in Texas. The newly established Texas Blockchain Council, a trade association for the blooming industry, estimates that there are roughly 20 small-scale mines and five or six large-scale ones, including the nation’s largest mine located in Rockdale outside of Austin.

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