Cryptocurrency jobs coming to NEA | News | jonesborosun.com – Jonesboro Sun

Cryptocurrency jobs coming to NEA | News | jonesborosun.com – Jonesboro Sun

Blockchain Crypto Market Technology
June 10, 2022 by Coinvasity
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Partly cloudy. Slight chance of a rain shower. Low 62F. Winds light and variable..
Partly cloudy. Slight chance of a rain shower. Low 62F. Winds light and variable.
Updated: June 9, 2022 @ 10:55 pm

NEWPORT — Newport has landed another new business, one that will pay significantly higher salaries than the norm.
Jon Chadwell, director of the Newport Economic Development Commission, said Wednesday that GMI Computing, based in Taiwan, plans to build a facility to mine bitcoin and other cryptocurrencies. He told The Sun it’s a major investment by the company, which already has operations in Oklahoma, Kentucky, Georgia and Arizona, according to an information packet from the company.
“They will be running around 4,500 computer servers 24 hours a day 7 days a week and need employees who are trained or who are willing to be trained in the operation and maintenance of computer servers and network connections,” Chadwell said in an email. “They anticipate an average wage of $65,000 to $80,000, depending on the experience of the employees.”
The company will be filling 10 or more jobs.
“These will be very good paying jobs and will produce skills that are easily transferable,” Chadwell noted.
Cryptocurrency is a relatively new concept in commerce.
According to Merriam-Webster, cryptocurrency is “any form of currency that only exists digitally, that usually has no central issuing or regulating authority but instead uses a decentralized system to record transactions and manage the issuance of new units, and that relies on cryptography to prevent counterfeiting and fraudulent transactions.”
Virtual currency bitcoin hit the mainstream in 2014. Bitcoin ATMs started springing up all over the world … , allowing people to exchange cash for the cryptocurrency, a secure digital payment outside of conventional financial institutions.
At least one bitcoin ATM is in operation in Jonesboro.
It’s the second job-creation development for Jackson County disclosed by NEDC in as many weeks.
On May 31, NEDC confirmed to The Sun that a construction company was recruiting workers to construct a 1,900-acre solar farm along U.S. 67 between Newport and Tuckerman.
Chadwell indicated two more companies will be announcing their intent to locate in Jackson County in the near future.
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