CleanSpark started construction only a couple months ago. Now, the massive lot is becoming a sprawling bitcoin mine.
SANDERSVILLE, Ga. — The newest mine in Sandersville has nothing to do with mining at all.
It’s a bitcoin mine, and Sandersville leaders say it’s making a major impact on the city’s economy.
Last year, 13WMAZ got a look inside the high-tech facility. Now, it’s expanding, and our cameras once again got a tour.
The massive facility expansion has its own power substation just to help manage the 250-megawatt power output. That’s 10 times what it takes to power the whole city. The city itself only uses 25 megawatts of power.
“There were some trees and a dirt field, and it’s come a long way, and it’s moving really quick,” Site Manager Bo Ginn said.
Fast forward about two months and a sprawling tract of land is turning into a sprawling bitcoin mining facility.
“We’re halfway, you know, up the hill here with six buildings coming up,” Ginn said.
Each building is as long as the Titanic.
All of them will eventually house hundreds of computers that crunch numbers all day to create bitcoin.
“Think of cash for a digital age. That’s what bitcoin does,” Chief Communications Officer at Cleanspark Isaac Holyoak said. “Unlike some of these other digital currencies that have a CEO, there’s no CEO of bitcoin.”
Holyoak says that’s why the company’s posted record profits. He says more people are buying in, and they need to meet the demand. So, they’re expanding their Sandersville facility to become the company’s flagship bitcoin mine.
“There is more energy in Georgia than there is use for that energy,” Holyoak said.
Sandersville City Administrator Judy McCorkle says that creates an advantage for them. Since the city manages its own electric company, it reduces bills for everyone else.
That money flowing into the city’s coffers can also help homeowners on their property tax bill.
“At some point, I could see that property tax bill being rolled back to almost nothing, almost 0%. That’s huge for us,” McCorkle said.
Ginn says those effects will be even stronger once they expand.
“We’re sending over six figures back to the city each month, and that’s going to be very significant post-expansion,” Ginn said.
He estimates they’ll pay $500,000 a month in taxes alone. That’s about $6 million a year, all going to the city.
“That money is money that the city wouldn’t be getting. It’s going to schools, to roads, to other community infrastructure that may have been neglected for a while,” Ginn said.
McCorkle says it’s likely the city’s property tax rate will eventually be as low as one mill. She says they’re also considering building a hotel with the funds.
CleanSpark hopes to have the facility running in the next few months.
