Washington state’s inexpensive power continues to attract large-scale cryptocurrency mining, and some global players are taking note. Bitmain subsidiary ‘Ant Creek LLC’ (owned by a one Jihan Wu) was granted a lease on land in Walla Walla Washington during a council meeting that included vocal outcry from concerned locals.
According to the local paper, members of the community were concerned that the extreme use of local power only enriched a few and wouldn’t benefit the community in a measurable way. The local power co-op stated that they had plenty of power to meet the additional demand.
The original terms for 40 acres of land to be leased by the Port of Walla Walla was trimmed to only 10 acres, which will be leased at a cost of US$4700 a month for the first year with an option to purchase after. The reduction of leased land was attributed to the community response, with the council said it would give the company time to generate buy-in from the community. Ant Creek will be responsible for 2.7 million dollars worth of roadway infrastructure, and the county will be providing almost half a million in access design and potable water infrastructure. Exercising the land purchase agreement will net the Port US$150,000.
Locals also showed concern about the final product, stating that cryptocurrency is “used for two things: transactions you want to hide from the law and speculation.”