Cabot and Lonoke County officials held a press conference this week to express concerns about a cryptocurrency mine being planned outside Cabot city limits in Lonoke County. Cabot Mayor Ken Kincaid, state Sen. Ricky Hill and Lonoke County Judge Doug Irwin said they want to block construction of the facility.
“These centers create noise and pollution that negatively impact people, pets, wildlife, nature and overall well-being,” Kincaid said. “We will not tolerate this and will fight hard to counter this company's efforts. We will work with our neighbors in Lonoke County, our state senators, and our representatives to eliminate this from our community. We will take all legal steps within our power to do so.”
For Hill, the location of the cryptocurrency mine near Little Rock Air Force Base is an issue.
“Why did they choose this facility less than eight miles from our Air Force base? This is a national security concern,” he said.
Mr. Irwin issued a cease-and-desist order to the company, halting construction.
“The law allows us to pursue this, but in order to be placed in a facility, we have to meet certain guidelines, which have not been met at this time,” he said.
Dustin Curtis, vice president of Interstate Holdings Blockchain, which operates the mine, recently told Arkansas Money & Politics that the project meets all regulatory requirements.
“Everything is done by the book,” he said. “The appropriate steps were taken. There was solid research done and we're just trying to be a responsible company.”
He has published a newsletter debunking what he believes to be myths about crypto mining. The letter states that cryptocurrency mining is not environmentally destructive because it uses excessive energy and miners often use renewable energy. Since it is decentralized, smaller players can also participate. It is an integral part of the cryptocurrency network. This is not just a “get rich quick” purpose.
“Bitcoin mining has its challenges and criticisms, and it is imperative that we approach this issue with a comprehensive understanding of its nuances,” the letter said. “Rather than dismissing Bitcoin mining entirely, it is important to consider the broader context, the technological advances it facilitates, and its potential to bring about positive change in energy sectors and financial systems around the world.” is.”
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