Madison City Council Considers Digital Currency Mining Facility

A potential digital currency mining facility is being considered in Madison, South Dakota. The proposal, put forth by an Iowa-based company called Simple Mining, would see a facility built to house specialized computers that help verify transactions and unlock revenue from Bitcoin.

The city's administrator, Jameson Berreth, says the facility could bring in new revenue for the city by helping offset electricity costs. He notes that residents have concerns about utility bills and rising costs, making this an opportunity to attract a new customer and provide new revenue streams.

Before moving forward with the project, the city council must approve two agreements: a land lease agreement and an electric service agreement. A conditional use permit has already been granted by the city's board of adjustment, which includes provisions such as standard noise levels that must not exceed normal traffic noise of adjacent streets.