Bitcoin Mining in the U.S is a Potential Windfall for Montana Economy

Bonner and Butte, Montana, are home to two of the giant Bitcoin mining infrastructures in North America. Further, they are a subject to a big energy producer, the Colstrip power plant, that is almost being closed down. Bitcoin mining has, therefore, become such a significant windfall for the US economy, that Senator Steve Daines, a congressional representative is worried that shutting down the plant could damage its cryptocurrency golden goose.

“As the demand for Bitcoin miners increases and supply of cheap reliable electricity from coal generation decreases,” Senator Steve Daines explained during a Senate Energy and Natural Resources Committee meeting in Washington, DC, “this could pose a threat of the expansion of Bitcoin generation and even greater threat to energy supply and prices for Montana as a whole.” 

Montana's Senator Embraces Bitcoin Mining 

For instance, Butte Montana is home to the Cryptocurrency Watt LLC mining center. After taking over the industrial area, it depends on the coal-fired Colstrip plant for 64 megawatts of power, setting it as one of the largest users of power in the state. Senator Steve elaborated the plant is scheduled for a close down in less than a decade, and if any four of the plant's sectors are shut down that could well terminate Montana's Bitcoin mining sector. 

Such an informed posture by the state's politicos is hardly fresh. Last summer, its governor proclaimed near to $5 million would be awarded as a grant to Bitcoin miner Project Spokane for employee training, business growth and job creation. 

On a Roll 

Governor Bullock explained at the time, “Missoula County received $416,000 of BSTF Job Creation funds to assist Project Spokane, LLC to expand, which will allow the company to create 65 new jobs in Bonner. The BSTF funds will be used for the purchase of equipment, machinery, furniture and software and for wage reimbursement. Project Spokane, LLC is a data center that provides blockchain security services for the bitcoin network.” 

The Bonner Bitcoin mining infrastructure is performing well, it hopes to enlarge its processing capacity from 12,000 to 55,000 rigs. The mining firm can flourish in the US because of its natural temperatures and a favorable political climate. Miners forechoose colder places to maintain machines operating well, not to mention reducing cooling costs.

In February 2018, the state registered another big mining contractor, as reported here. Since 2016, tens of millions of dollars have been promised by several miners of different societies. And if the plant Senator Steve is interested about dry up and is closed up, panelists at the Senate meeting noticed him it could be a chance for the state to create more various energy providers online.