Bitcoin trade in Siouxland? A new business coming to Gateway Complex

Bitcoin trade in Siouxland? A new business coming to Gateway Complex

It's a 21st century way of paying for goods and services, we're talking about Bitcoin.

That currency is making it's way to North Sioux City's old Gateway campus.

The "currently unknown" business will be making it's way into North Sioux City, with intentions to use their area in the Gateway campus to do Bitcoin "mining."

Although Bitcoin has been around since 2009, many people still don't fully understand the crypto-currency.

Bitcoin is digital currency which has no central authority to control or regulate it, letting the market decide its value.

This new business will help buyers and sellers of the currency connect to one another and will take a percentage fee from each transaction they process.

"There's really a few factors that they are looking for but the number one is power. We've got some of the cheapest power in the United States so it's very attractive in this part of the Midwest because our kilowatt charge is so low compared to other parts of the country," said President of NAI United, Chris Bogenrief.

Bogenrief said every building on the Gateway campus has the ability to do crypto-mining.

He also said he thinks the technology that allows these online transactions to take place is here to stay and says these crypto-mining operations could continue to pop up in Siouxland.

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