Georgia Is Establishing Itself As A New American Crypto Mining Hub.

Georgia crypto miners accounted for 34% of the computer power in the Foundry USA mining pool as of the end of January. This is approximately twice its share from the third quarter of last year.

Georgia offers a number of benefits to cryptocurrency miners, including fairly inexpensive electricity prices from renewable sources such as nuclear and solar electricity. While this allows mining corporations to market themselves as environmentally conscious, it appears that state agencies are making a concerted effort.

Regulators, for example, have been known to aid miners in locating a solar scheme that allows them to balance their emissions with renewable energy credits. They have also aided miners by providing them with access to electricity costs a day in advance, giving them enough time to reduce operations before rates jump again. Such stories help to explain why, in September, a consortium of cryptocurrency mining businesses announced plans to bring additional 56,000 miners to the state.

Another such story involves Bitcoin miner CleanSpark Inc., which purchased a data center in the Atlanta neighborhood of College Park. Despite wishing to move to a more economical, environmentally friendly electricity source, Georgia law barred it.

However, with the involvement of Tricia Pridemore, the chairwoman of the Georgia Public Service Commission, who controls electric companies and power rates in the state, a new contract permitted cryptocurrency miners to buy greener electricity at a discount.

CleanSpark executive chairman Matt Schultz said:

“At the end of the day, Georgia wants this business here. They’ve done everything in their power to grow Bitcoin in the state.”

Despite the support, Pridemore regards her position as just engaging with miners and telling them what they should know and suggesting solutions for them to achieve their goals. “I don’t have an opinion on Bitcoin mining,” she explained. “If they use a lot of energy and we work with the utilities, they’re a good fit for Georgia.”

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