News Talk 94.1/AM 1600 Where The Upper Cumberland Talks
Van Buren County Mayor David Sullivan said a crypto miner wants to develop a bitcoin-generating operation in the Industrial Park.
At Tuesday night’s Committee A meeting, committee members expressed general concerns about the cost to Van Buren County. Sullivan said that when he talked to the representative he said Van Buren County wasn’t paying anything towards the crypto endeavor.
“They have the money,” Sullivan said. “They have the electrician. I was talking to the electrician last night. They need a minimum of 10 megawatts of power. Or they’ll take 30 megawatts of power if we can give it to them.”
Sullivan said Van Buren would tax the crypto company’s equipment, including a million-dollar transformer and all the computers and equipment involved in electronic mining.
“Committee B will have to work on this,” Sullivan said. “Plus we’ll have to have an Industrial Board back because of the tax law.”
Sullivan said Whether negotiations move forward at all depends mostly on whether Caney Fork Electric can and will provide the power required by the prospective buyer.
“Then it would be up to us to decide on the price of the land,” Sullivan said.
Committee A members began asking questions. Sullivan clarified again that the item would have to go before Committee B for approval. Committee B makes decisions on land and buildings owned by Van Buren County.
