Kentucky's Crypto Mining Boom

This is a Kentucky news story, published by Wired, that relates primarily to Mighty news.

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Business

Business & Economics

Kentucky’s Bitcoin Boom Has Gone Bust

Summary

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81% Informative

At its peak, Kentucky accounted for some 20 percent of the collective computing power dedicated to proof-of-work cryptocurrency mining in the US .

Now, as some residents have soured on bitcoin mining, they’ve started to speak about AI data centers in the same way they used to talk about coal seams and hash rates: with a kind of cautious hope.

The old infrastructure is still there too; substations, hardened ground, cooling systems, and power-hungry hardware just waiting to be switched back on.

Residents are wary because they have had problems with facilities and their runoff in the past, so they worry these new facilities could affect fish and disrupt the land.

Some locals see potential, even progress.

Mohawk ’s bitcoin mining may even make a comeback in Kentucky .

The parties are supposed to go into arbitration May 12th . “I’m very hopeful that they sit down and say, Mighty nice plant you have there. Let's just go ahead and turn it on.’”.

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Informative language

Neutral language

Article tone

informal

Language

English

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Offensive language

not offensive

Hate speech

not hateful