Crypto mining is coming to East Tennessee
Wattum, a crypto-mining company, has purchased two locations in East Tennessee.
KNOX COUNTY, Tenn. – The city of Morristown will get two crypto-mining sites.
Wattum, a crypto-mining company, has approached the Morristown Industrial Development Board to purchase two sites in Morristown Industrial Parks, according to a Facebook post from Mayor Gary Chesney.
The post says the Morristown City Council unanimously agreed to sell a site in East Tennessee’s Progress Center and another in East Tennessee’s Valley District in Wattum on July 21. .
Morristown Utility Systems said it will have enough capacity for high-powered computers.
Chesney said concerns about noise levels such as cooling fans blowing on heat-generating cryptocomputers prompted complaints from isolated residential owners, and a lack of county zoning had allowed unrestricted facilities.
The crypto-mining operation passed a business background check and agreed to keep decibel levels below 70, which is well below OSHA standards, according to Chesney.
Before approving the sale, the mayor said city leaders visited other crypto mining operations in Washington County and Jellico.
The city of Morristown will receive about $250,000 from the facility for the first two years, then only receive property taxes thereafter, according to Chesney.