The Madison City Commission will hold an introductory discussion today, regarding a proposal from an Iowa-based digital currency mining company that is exploring the possibility of locating a new facility in Madison.

According to a memorandum from City Administrator Jameson Berreth, the discussion involves Simple Mining, a digital currency mining company based in Cedar Falls, Iowa. 

The city has been seeking an interruptible electric load customer that could take advantage of Madison’s Large Load Electric Rate (LLER) and Heartland Energy’s Interruptible Load Program. City officials say attracting a customer with a large electricity demand could significantly increase electric utility revenue while ensuring all associated costs are paid by the large-load customer rather than existing utility customers.

The city had previously been engaged in talks with Giga Energy, but Giga’s transition to a non-interuptible load no longer aligned with the city’s vision. 

Berreth said the talks with Simple Mining have just begun. 

CUT: Simple Mining 1   (:36)

Simple Mining has expressed interest in developing a 10-megawatt digital currency mining facility in Madison. The proposed operation would consist of several container-style units, similar to a project previously presented to the city by Giga Energy.

Company representatives told city staff they have employees based in both South Dakota and Iowa and intend to invest in the local community by using area contractors during construction and development.

No vote or other official action is expected during Monday’s discussion at the Madison city commission meeting today at noon in the commission room at City Hall.