SULLIVAN COUNTY, Ind. (WAWV/WTWO) – A new cryptocurrency mining facility will soon take over a portion of a local power station facility.
The new project is financed by Kentucky-based crypto pioneers AboutBit and will be located adjacent to the generating station in Merom, Indiana. AboutBit has teamed up with both WIN Energy and Hoosier Energy to bring next generation jobs to Sullivan County.
Cryptocurrency mining facilities house thousands of uniquely designed computers designed operated to solve mathematical equations on a constant basis.
Jay Chiang Principal at AboutBit said the company has plans to purchase over 100 megawatts of electricity from WIN Energy to power the facility.
“100 megawatts facility will house about 20,000 machines,” Chiang said.
Chiang started to estimate the costs of the facility since Hoosier Energy approved the agreement over a year ago.
“The infrastructure costs looks to be about 5 million and the equipment costs looks to be about 25 million,” Chiang said.
Chiang said AboutBit had the ability to locate just about anywhere and Indiana’s climate and future economic development is why the company chose to invest.
“It’s serious business and it’s a serious commitment to the community and to Indiana,” Chiang said.
Chiang said the community can expect job openings in the next couple month.
“A couple of key people will be sent there outside of the community, but 6 or 7 will be hired locally,” Chiang said.
Sullivan County Commissioner John Waterman said investments and opportunity from this project will benefit the county.
“6 will be hired out here locally and that’s 6 we don’t have right now,” Waterman said. “Anything that helps benefit our economy right here in the county is more than welcomed.”
Waterman said the location of the operations will affect a very small amount of residents.
“There’s very little residents where they plan to operate” Waterman said. “It will utilize a lot of our commercial properties.”
Full operations plan to begin in the upcoming months.
