The influence of Bitcoin mining has been rapidly spreading across the United States, with many new facilities and large-scale operations making smaller towns and communities their new home. Following the ban on crypto activity in China in 2021, which was then succeeded by a regulatory crackdown on mining in Kazakhstan and an unstable mining climate in Russia due to ongoing war tensions, the crypto mining industry has been steadily making the United States its next mining hub. The USA as a whole offers an abundant energy supply and relatively stable political conditions, which makes it a natural destination for Bitcoin miners from around the world. But what does this mean for communities across the country, in particular the small, rural ones that often make for ideal locations for mining operations?
Common Concerns for Small Communities
Before exploring the many positive impacts that Bitcoin mining operations can have on small communities – including the utilization of underutilized energy and the creation of local jobs – let’s touch on a couple of the perceived downsides that many assume can accompany industrial Bitcoin mining operations. One primary concern is noise, and indeed sound money can get pretty loud, creating challenges depending on the location and size of the operation. But this is also an obstacle that already applies to most large data centers, and isn’t specific to Bitcoin or crypto mining – despite miner noise being an issue that the mining industry has been rapidly working to address through quieter hardware and other solutions like immersion cooling.
In addition to noise pollution, another common concern is waste pollution, but Bitcoin mining actually offers a much cleaner alternative to many other forms of industry, and often also to the very industries that came before it. In many cases, the manufacturing infrastructure that mining now makes use of had long released waste pollution directly into the community. The process of mining Bitcoin, on the other hand, creates virtually no physical waste, and depending on the local energy supply, can be powered largely or even entirely by renewable energy. Of the many types of industrial operations that could move into a small community, Bitcoin mining brings the potential to be cleaner and more sustainable than the vast majority of them.
Tapping into Stranded Power Sources
Large-scale industrial Bitcoin mining operations, whether in the form of enclosed facilities or repurposed plots of land with installed mining containers, all greatly rely on one thing: energy. And it is the abundance of underutilized energy that creates the primary draw to many rural American towns, most notably across states like Georgia and Texas, where an enduring manufacturing exodus has in some places left energy infrastructure inactive for decades. Understandably, when big crypto players come in waving big crypto flags, it can be unsettling for some locals who have lived their entire lives there and are dedicated to preserving the culture and integrity of their town. However, Bitcoin mining offers the capacity to do just that.
Bitcoin, cryptocurrency, and blockchain technology have already proven that they are here for the long run, and at the current frontier stage of so much of this innovation, there is a lot to gain. As such, Bitcoin mining operations don’t only seek out untapped local energy sources – they effectively harness untapped community development opportunities and needs as well. Rural communities provide low-cost power and available property near power grids, thus creating the opportunity for mining operations to utilize underutilized stranded electricity, and breathe new life into idle infrastructure in the process. In this sense, Bitcoin mining not only doesn’t produce much actual waste, but rather invests resources back into the community.
The Next Generation of Economic and Social Growth
As you can imagine, managing a large-scale industrial facility that hosts thousands of ASIC miners is a lot of work. Bitcoin mining facilities require maintenance 24/7, which means that facility workers eat and drink at local restaurants and cafes, rest and lodge in local hotels and motels, and shop at local stores and markets. Since there’s so much to do to ensure that everything is running smoothly, we’re always looking for more hands to join our team, so we hire and train local, too. This all creates a stimulating impact on the local economy, one that benefits not only those who work with us but also everyone else in the community.
Smaller towns also typically come with lower wages and fewer local employment opportunities that have room for significant growth or advancement. As postindustrial projects that align with the community’s next chapter, Bitcoin mining facilities can help to reduce the outflow of young local talent by creating revolutionary career opportunities right at home, driving professional experience and scalable employment within a rapidly developing tech industry. These are all opportunities that get passed down as well and thus leave a lasting positive impact on the community, fostering professional, economic, and social development.
A Close-Knit Working Relationship
And yet, it’s not only about working for a big tech company. At the end of the day, after Bitcoin mining operations come knocking at the doors of smaller towns across America, the benefits of their presence there will ultimately be felt on more levels than one – and by many other local residents and the town as a whole. Yes, the mining company benefits from cheaper power than they might find elsewhere, as well as available and accessible property, and the scaling of their operations.
But the town also benefits from a boost to the local economy thanks to an increase in business activity across the retail, lodging, hospitality, and other industries, as well as an expansion of the tax base – not to mention an increase in new job opportunities that prioritize a long-term career path built on training, learning, and growth initiatives within a crypto industry that continues to evolve and become more and more integrated into the everyday lives of people around the world.
Another important benefit for large Bitcoin mining companies that comes with building operations in small towns is that we get to closely engage and interact with local members of the community, building an intimate relationship with them and thus realizing our goal of maintaining a customer-centric approach in all of our business ventures. In short, we get to be part of the community ourselves, becoming invested in its growth and success – and we get to be a good neighbor along the way.
Mutually informed initiatives are part of Wattum’s commitment to revolutionizing the crypto mining industry in two ways: by making Bitcoin mining equally accessible to all, and by driving the embrace and implementation of sustainable mining business models that do far more good than harm. Rather than merely bringing Bitcoin mining to American communities, we also aim to help put these American communities on the map and to highlight them on the global stage as being part of something truly exciting and important – by making it possible for the benefits of Bitcoin and mining to be accessed and used by everyone.
To learn more about the personal benefits of mining, how mining can help you spearhead local business growth, or to better understand how Bitcoin mining operations can play a vital and positive role in your community, reach out to us at info@wattum.io.
