BUTTE – Bitcoin may be a cryptocurrency, but officials in Butte are hoping a new Bitcoin operation start here soon will generate real concurrency for the city.
“This project is bringing a lot of investment and a lot of good, positive potential to our Mining City,” said Matt Vincent, who is working as Butte’s representative for CryptoWatt.
An out-of-state businessman, Dan Burrell, purchased the MSE Technologies lot just south of Butte to open Bitcoin mining operation. Bitcoin is a type of digital money used to pay for goods and services online. This mining operation will be used to generate this digital currency, which requires plenty of power.
“We have some of the lower power costs in the nation and so it’s very attractive to those server farms, things that need a lot of energy,” said Butte Local Development Corporation director Joe Willauer.
The MSE property was also attractive to this company.
“It was a big available, vacant industrial site properly zoned. Happens to have a big substation on site to generate electricity, which is one of the big requirements for this bitcoin mining process,” said Vincent.
Economic leaders here in Butte are excited about this new development because the MSE site was recently abandoned by its former occupants and they’re glad to see that this 53-acre site will be back in use.
“It’s not very often that we get to see that type of quick turnaround, where we have what at one point was a major employer in our community essentially close things down and someone new, which a lot of potentials, open up so rapidly,” Willauer said.
The operation could get started within the next month. Officials find it appropriate that Bitcoin mining will happen in a city famous for copper mining.
“Now we’ve come full circle into the 21st Century and we’re making strides to become one of the world centers of Bitcoin and cryptocurrency mining,” Vincent said.
The operation is expected to expand into Anaconda as well.