Startup to establish crypto mining facility in Sullivan County – WISH-TV | Indianapolis News | Indiana Weather

MEROM, Ind. (Inside INdiana Enterprise) — A Kentucky-based cryptocurrency startup is trying to remodel a portion of the Merom Producing Station in Sullivan County right into a crypto mining facility. AboutBit LLC says the venture will create as much as 15 high-tech jobs with the potential for extra as soon as the power is on-line.

AboutBit payments itself as a startup “devoted to constructing extra sustainable options to mine cryptocurrencies.”

The corporate has entered right into a five-year settlement to buy 115-megawatts of electrical energy from WIN Vitality REMC, a nonprofit electrical distribution cooperative in Vincennes, to energy the power.

“We consider there may be large potential for rural areas and superior expertise infrastructure equivalent to information storage, cryptocurrency and cybersecurity amenities,” WIN Vitality CEO Tom Nowaskie mentioned in a information launch. “That is an instance of that potential, and we sit up for exploring comparable alternatives sooner or later.”

AboutBit says it can use superior expertise to mitigate environmental and noise air pollution, together with a liquid cooling system to make sure the machines run quietly. The corporate says constructing the information middle on the location of the ability plant means right here will likely be little to no influence on the setting.

AboutBit founder and CEO Stacy Griggs says the power will even be capable to scale back power utilization throughout peak durations.

“It’s laborious to spin up and spin down energy crops,” mentioned Griggs. “If demand within the area hits a peak, we’ll really be capable to scale back our energy necessities from WIN Vitality and reduce our use on the mining facility, finally benefiting different clients in Southwest Indiana.”  

AboutBit didn’t instantly disclose its funding within the facility, which is anticipated to go surfing within the subsequent 30 days.

The Merom Producing Station is presently owned by Bloomington-based Hoosier Vitality. Nevertheless, in February, the co-op announced plans to promote the coal-fired plant to Terre Haute-based Hallador Energy Co. LLC. That deal is anticipated to shut in July.