CASCADE, Iowa (KCRG) — A bitcoin mining company plans to build in Cascade, a move backed by the local economic development corporation.
Simple Mining, a Cedar Falls-based company, plans to build on about four acres of land at the Cascade Industrial Park. Ken McDermott, president of the Cascade Economic Development Corporation (CEDC), said the company plans to put computer servers inside about 40 crypto mining containers. Each container would be about 160 square feet in size and sit on a concrete platform.
“Simple Mining is not putting in a data center,” said McDermott.
Joan Hoffmann, who has lived next to the industrial park in the Oak Hill neighborhood for nearly a decade, said she is concerned about how much water and power the project would use and how her day-to-day could be affected.
“I spend a lot of my time in the summer out on the porch and I love the sound of the birds and the kids playing at the park nearby,” Hoffmann said. “I hope that wouldn’t interfere with that. I love hearing the birds and I hope that wouldn’t scare them away.”
McDermott said the containers built at the site would be self-cooled, meaning water and power use would be more efficient.
An agreement between CEDC and Simple Mining requires that any noise leaving the property be at most as loud as a normal conversation.
“As far as the quality of living in Oak Hill, you’re not even going to know it’s there,” McDermott said.
The agreement also noted that Simple Mining will share “the maximum potential electrical consumption” of the project with CEDC prior to closing on the purchase and sale of the real estate.
McDermott said once Simple Mining finalizes its plans, it will be presented to the CEDC for approval and a public meeting will be scheduled to answer questions about the property.
“Simple Mining is an Iowa-based company that has numerous projects throughout Iowa and is deeply committed to be transparent with their projects,” said McDermott.
McDermott said the project could create about eight jobs.
Building permits also still need to be approved by the city before construction begins.
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