Revolve Labs, a colocation provider, has officially withdrawn its application for a Bitcoin mining facility located just outside Windom, a rural town in southwest Minnesota. This decision follows rising concerns among local residents about potential noise pollution and its impact on property values.
The firm, formerly known as Bit 49 until its rebranding in July 2023, reported that it received substantial feedback from the community. According to local newspaper The Minnesota Star Tribune, Jeff St. Onge, senior operations manager at Revolve Labs, stated, "Our commitment is to operate in a way that aligns with community values and priorities, and we recognize that collaboration is essential to achieving this."
The proposed Bitcoin mining facility was anticipated to generate significant revenue for Windom, with estimates suggesting $35,000 per month in service fees. Jason Sykora, the city’s electrical utility superintendent, indicated that the operation could have potentially flattened out electricity rates for residents over the next three years.
Despite assurances from Revolve Labs that they could manage noise from cooling fans, residents remained skeptical. They cited existing complaints related to noise from the company's facility in Glencoe, Minnesota. During a public hearing in late August, several community members voiced concerns not only about noise but also about the overall benefits of Bitcoin mining.
The community's response to the halted plans has been mixed. Local shop owner Hilary Mathis expressed relief, noting that residents are "overjoyed the current worry is over." In contrast, Sykora expressed disappointment that more individuals did not support the proposal, emphasizing the financial benefits it could have brought.
This development in Minnesota mirrors recent events in Stokmarknes, Norway, where residents sought to close down a Bitcoin mining facility due to noise complaints. Ironically, the shutdown has led to a projected 20% increase in energy bills as the local power company attempts to recover lost revenue.
Critics often highlight the energy consumption and noise generated by Bitcoin mining. However, supporters argue that mining facilities can stabilize the grid and utilize stranded energy, which might otherwise go to waste. For instance, in Texas, Bitcoin miners have contributed to reducing electricity prices.
The ongoing debate about Bitcoin mining underscores the complex balance between community needs and economic benefits, particularly during times of rising living costs.
