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SULLIVAN COUNTY, Ind. (WAWV\/WTWO) \u2013 A new cryptocurrency mining facility will soon take over a portion of a local power station facility.<\/p>\n
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.<\/p>\n
Cryptocurrency mining facilities house thousands of uniquely designed computers designed operated to solve mathematical equations on a constant basis.<\/p>\n
Jay Chiang Principal at AboutBit said the company has plans to purchase over 100 megawatts of electricity from WIN Energy to power the facility.<\/p>\n
\u201c100 megawatts facility will house about 20,000 machines,\u201d Chiang said.<\/p>\n
Chiang started to estimate the costs of the facility since Hoosier Energy approved the agreement over a year ago.<\/p>\n
\u201cThe infrastructure costs looks to be about 5 million and the equipment costs looks to be about 25 million,\u201d Chiang said.<\/p>\n
Chiang said AboutBit had the ability to locate just about anywhere and Indiana\u2019s climate and future economic development is why the company chose to invest.<\/p>\n
\u201cIt\u2019s serious business and it\u2019s a serious commitment to the community and to Indiana,\u201d Chiang said.<\/p>\n
Chiang said the community can expect job openings in the next couple month.<\/p>\n
\u201cA couple of key people will be sent there outside of the community, but 6 or 7 will be hired locally,\u201d Chiang said.<\/p>\n
Sullivan County Commissioner John Waterman said investments and opportunity from this project will benefit the county.<\/p>\n
\u201c6 will be hired out here locally and that\u2019s 6 we don\u2019t have right now,\u201d Waterman said. \u201cAnything that helps benefit our economy right here in the county is more than welcomed.\u201d<\/p>\n
Waterman said the location of the operations will affect a very small amount of residents.<\/p>\n
\u201cThere\u2019s very little residents where they plan to operate\u201d Waterman said. \u201cIt will utilize a lot of our commercial properties.\u201d<\/p>\n
Full operations plan to begin in the upcoming months.<\/p>\n<\/p><\/div>\n