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America’s Bitcoin Miners See Georgia as the New U.S. Hot Spot

Cheap power from sustainable sources and a friendly regulatory environment are a powerful combination in attracting miners.

States like Georgia are welcoming miners, while others have taken a more cautious approach.

States like Georgia are welcoming miners, while others have taken a more cautious approach.

Photographer: Elijah Nouvelage/Bloomberg
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When Bitcoin miner CleanSpark Inc. bought a data center in the Atlanta suburb of College Park, the company had a problem: It wanted to switch to a cheaper, greener power provider but Georgia law wouldn’t let them. Enter the head of the state’s power board, who stepped in last year and approved a plan under which the old data center would continue buying power from a big utility, while 15,000 mining machines on the same piece of land would be allowed to buy cleaner power sold by a non-profit generation organization at about half the price. 

“At the end of the day, Georgia wants this business here,” Matt Schultz, CleanSpark’s executive chairman, said in an interview. “They've done everything in their power to grow Bitcoin in the state."