Landmark power deal creates major opportunities for miners, investors, and a small Indiana community
MEROM, Ind., May 11, 2022 (GLOBE NEWSWIRE) — AboutBit, the Kentucky-based pioneer in sustainable crypto mining, has announced plans to locate a new state-of-the-art mining facility in Merom, Ind., powered by 115 megawatts of electricity from WIN Energy. The five-year deal with WIN Energy puts the project among the top 10 crypto power projects in the United States.
Phase one of the project, which is fully backed by the state, as well as local governments and utilities, will be online in the next 30 days. It will eventually support more than 50,000 machines, aimed at mining Bitcoin and a variety of proof-of-work assets.
The project stands apart from other large crypto mining facilities because of both its technology and the team behind it. AboutBit is made up of highly experienced IT professionals with a long track record of successful business ventures (https://aboutbit.co/leadership/). The group is improving the cryptocurrency community model by operating with a high-end datacenter mindset, and their experience with advanced technologies such as liquid cooling systems will maximize the installation’s efficiency and performance – providing more computational power without expending more energy.
The location itself provides additional advantages for miners, investors, and the community. The 10-acre site is currently home to the Merom Generating Station, which means transmission and other infrastructure is already in place.
Griggs says the scalability inherent to the project allows outside crypto miners to easily co-locate with AboutBit in the Merom facility.
“The low cost of power will be a very attractive incentive for miners looking for a base of operations,” Griggs said. “We’ll be able to provide the power wholesale to miners from both the U.S. and around the world, along with the physical space and infrastructure to accommodate their hardware demands.”
In addition to easily accessible and competitively priced electricity, miners can also take advantage of AboutBit’s IT expertise in the form of the company’s proprietary app. The app will allow investors to monitor performance in real time, accurately gauging the power consumed along with the amount of crypto their machines have validated.
WIN Energy is a cooperative member of Hoosier Energy, which supplies power as part of the RFC regional grid. WIN Energy has historically acted as an ‘energy source’ to spur economic growth in communities and to create a better style of living by providing safe and reliable electric service to its members.
The new facility expands AboutBit’s mining capacity and adds to existing mining sites in the Midwest and Western United States.
AboutBit is a Louisville, Ky. based crypto startup dedicated to building more sustainable solutions to mine cryptocurrencies while equally contributing to the growth of BTC and its investors’ returns. AboutBit specializes in the deployment of mobile, turnkey containerized data centers powered by alternative sources of energy. Through a partnership with Starlink, the pods are equipped with unparalleled connectivity to ensure mining operations continue without interruption, utilizing less power.
In addition to the mobile miners, AboutBit is investing in brick-and-mortar mining facilities in the Midwest and Western United States. AboutBit is propelling higher gross margins and providing a lower risk environment for its partners, the industry, and the planet.