Montana’s Bitcoin Mining Business Is Getting Protection From US Senator
Bitcoin mining is blossoming in the United States, especially in Montana. Bonner and Butte are the home of two of the largest Bitcoin mining facilities in North America. However, they receive their energy from Colstrip power plant, which will shut down soon. Because of this, the US senator Steve Daines is concerned about how closing this plan can kill the crypto business in the cities.
US Senator Defends BTC Mining Companies In Montana
According to the US senator Steve Daines, the demand for Bitcoin mining is increasing around the world, but the supply for cheap reliable electricity made from coal generators is decreasing. Because of this, there is a clear threat for the expansion of the Bitcoin generation business in these companies in Montana.
The senator argued during the Senate Energy and Natural Resources Committee meeting in Washington that it would be a good idea to help these companies and protect them.
Butte is the home of Crypto Watt LLC mining center, which has used an old industrial site, relies heavily on Colostrip for its 64 megawatts of power, making it one of the biggest users of the state. The problem, according to the senator, is that the plan will shut down in less than ten years.
He is concerned that, if these four plants are shut down, this could be the end of a whole industry in Montana, and an industry for such an important asset like Bitcoin, so the government should do something about it.
Montana Governor Is Also Pro-Crypto
The senator is not alone. The governor of Montana, governor Bullock, has announced that half a million USD would be awarded to Project Spokane last year. This crypto company was awarded for business growth, job creation and employee training.
As he explained at the time, the $416,000 USD that the company received allowed it to create 65 new jobs and were used to buy equipment, machinery and furniture for the company. The Bonner facility is doing very well right now and it is enjoying a good political climate, the cool natural temperatures of the region and the low cooling costs. Now, it needs a more reliable source of power.
As the senator looked concerned about the sources of power that these companies use, the Senate reminded him that this could be a good opportunity for the state to create more energy providers.