Wattum, a crypto mining company, has purchased two sites in East Tennessee.
CREDIT TO: WILLIAM WINETT, 10NEWS, JULY 22, 2022.
The city of Morristown will be getting two crypto mining sites.
Wattum, a crypto mining company, approached Morristown’s Industrial Development Board about purchasing two sites inside Morristown’s industrial parks, according to a Facebook post from Mayor Gary Chesney.
The post said the Morristown City Council agreed unanimously to sell one site in the East Tennessee Progress Center and another in the East Tennessee Valley District to Wattum on July 21.
Morristown Utility Systems said it will have plenty of capacity for the high-energy computers.
Chesney said concerns of noise levels such as cooling fans blowing on heat-generating crypto-computers brought complaints from isolated residential homeowners, and a lack of county zoning had allowed unrestricted installations.
The crypto mining operation cleared a business background check and agreed to keep decibel levels under 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 installation for the first two years, then receive only property taxes after, according to Chesney.