A bitcoin mining company called Founder is planning on investing $100 million into a new operation in Rochester as it expands from New York.
CEO Mike Colyer says that bitcoin is here to stay and the company wants to take advantage of the bright minds that gather in Rochester.
“So Bitcoin mining is basically the computers that run the network and they do two things they secure the network and they process the transactions and thats done in a decentralized way so anybody in the world can participate in the network. We picked Rochester, one of the reasons is because of the tech talent here. We’ve got amazing universities, we’ve got amazing talent and it’s a great place to live so it’s like, why not build a business here in Rochester?”
The new operation is expected to create 18-20 jobs over the next year and a half.