The Madison City Commission is continuing discussions on a proposed digital currency mining facility that could be located in the city.
Commissioners discussed proposed land lease and electric service agreements with Simple Mining LLC during Monday’s meeting.
Simple Mining, based in Cedar Falls, Iowa, is proposing a 10-megawatt digital currency mining facility in Madison.
City Administrator Jameson Berreth says the project could provide additional revenue to the city’s electric fund by bringing in a new customer and helping offset electricity costs.
The city’s Board of Adjustment has already granted Simple Mining a conditional use permit. The permit includes conditions, such as a noise requirement that the facility’s noise level cannot exceed normal traffic noise from the adjacent street.
The city and Simple Mining are still working through the land lease and electric service agreements.
No action was taken on those agreements Monday. City officials say the agreements were placed on the agenda to give commissioners and the public additional time to review the proposal and ask questions.
If the agreements are eventually approved, the company has indicated construction of the facility could take about three months.
