As part of its expansion, Colorado-based Bitcoin mining company Revolve Labs wants to build a $60 million data center in Glencoe, Minnesota.
According to the Minnesota Star Tribune, the proposed complex would have cooling systems, backup generators, and one or two AI data centers.
In addition to resolving neighborhood noise pollution problems, its objective is to improve the company’s capacity to handle Bitcoin transactions.
The facility, which is still in the early phases of planning, may cost between $40 and $60 million and employ about 10 people.
The company talked about the concept in a September meeting with the Glencoe Economic Development Authority.
According to the Star Tribune, the roughly 6.2-acre property would house a new power substation to support the expansion and the data center infrastructure.
In order to validate transactions on the Bitcoin network, specialized computers must solve difficult mathematical problems through a resource-intensive process called mining. Miners are rewarded with Bitcoin in exchange.Â
These procedures need a significant amount of computational power and energy, which is why Revolve Labs plans to establish a data center.
In other news about cryptocurrencies and Minnesota, on October 17, the Federal Reserve Bank of Minneapolis released a working paper suggesting that governments impose taxes or prohibit Bitcoin to preserve long-term primary deficits.
According to the report, Bitcoin is a “balanced budget trap” that makes it difficult to implement policies, particularly for governments that depend on nominal debt.
Bitcoin Mining Noise Complaints
According to the Star Tribune, Glencoe’s mining operations have caused some criticism because of the noise produced by their cooling systems and mining equipment.
Locals have voiced concerns regarding noise levels, which can reach up to 85 decibels, which is the same volume as a lawnmower.
Similar accusations have been made against Revolve Labs in other places, such as Windom, Minnesota, where the corporation dropped an earlier application for growth due to opposition from the local community.
Cities in Texas that were left with Bitcoin mining facilities are drawing businesses like Marathon Digital and Hut 8 because of their adaptable power grid and affordable energy prices.
However, the surge of mining operations in Texas has resulted in noise levels as high as 91 decibels, which has left locals suffering from migraines, sleep difficulties, and hearing damage.
These health problems have disproportionately impacted senior citizens, prompting worries about how mining may influence the general wellbeing of the population.
Revolve Labs’ operations have brought substantial economic benefits to the city of Glencoe despite noise concerns.
Dave Meyer, general manager of the Glencoe Light and Power Commission, reports that the city has received more than $500,000 in net annual revenue from Revolve Labs’ mining operations.
This funding has helped to keep local homeowners’ electricity prices from rising while supporting public infrastructure projects like upgraded streetlights.
