GUEST EDITORIAL: Cryptocurrency mining stirs debate across Georgia
Published 6:46 am Wednesday, June 19, 2024
Attracting different forms of industry is important for any area. It’s important, however, to make sure that industry has a positive influence and isn’t just a drain on an area’s resources. According to Capitol Beat News Service, one industry has recently been stirring up this kind of debate around the state — cryptocurrency mining.
For the uninitiated, cryptocurrency mining uses giant server farms to create digital currency like Bitcoin. Georgia is responsible for mining the second-most cryptocurrency in the U.S., behind the leader Texas.
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Recently, though, communities in Georgia have pushed back on having cryptocurrency mining operations in their community. A proposed rezoning that would have allowed for a server farm in Gilmer County failed to pass while Fannin County has outright banned crypto mining, according to Capitol Beat.
The General Assembly, however, seems to be going in the opposite direction. During their session this year, lawmakers considered a bill to give the industry a sales tax exemption on equipment purchased and prohibit local governments from targeting crypto mining operations with noise ordinances.
Noise pollution is often one of the biggest complaints tied to these operations. Other complaints include the drain on an area’s power and water resources due to the high demand of such resources for these farms.
Crypto mining does have its supporters who tout the industry for its job creation and its technological innovation. It also has it detractors like Rep. Penny Houston, R-Nashville, who said to Capitol Beat that the people she represents have had a “terrible experience” with a crypto mining operation in Adel.
Glynn County has yet to see any such large-scale crypto mining operations looking to come to the Golden Isles, but it’s certainly could happen at some point in the future. City and county leaders should be thinking about what they might do if such an operation should want to set up shop here.
One place city and county leaders could look is the Southern Georgia Regional Commission, which has a model ordinance on regulating crypto mining operations. According to Capitol Beat, that ordinance sets noise level and appearance standards for server farms.
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As for the General Assembly, they would be better off letting communities decide for themselves if they want this kind of industry in their backyard. There is nothing wrong with setting guidelines for an industry to operate, especially if it produces the kind of noise that these server farms can generate.