David Vance

Bitcoin

April

Indiana aims to attract <a href="https://ultramining.com/news/en/crypto-miners-shift-gears-ai-is-the-new-gold-rush/" rel="noopener noreferrer nofollow">data centers</a> and cryptocurrency mining operations by promising uninterrupted, low-cost energy. Lawmakers have assured mega-corporations of "ample amounts" of power and water to support their operations. Companies like Meta, Amazon, Google, and Microsoft, along with the cryptocurrency mining firm AboutBit, are investing in the state, according to <a href="https://cointelegraph.com/news/indiana-outage-free-energy-crypto-miners-data-centers" rel="noopener noreferrer nofollow">Cointelegraph</a>.
Indiana offers financial incentives to organizations, though <a href="https://ultramining.com/news/en/cryptocurrency-miners-strike-gold-with-record-13-9b-net-profit/" rel="noopener noreferrer nofollow">cryptocurrency miners</a> like AboutBit are currently ineligible for these state programs. AboutBit has transformed a 50-year-old power station into a sustainable liquid-cooled mining facility, located near the Merom Generating Station.
Amazon recently announced an $11 billion investment in Indiana. Governor Eric Holcomb emphasized the state's capacity to supply both power and water to support such investments. Commerce Secretary David Rosenberg confirmed that Indiana has abundant resources to meet these demands.
In 2024, <a href="https://ultramining.com/news/en/senator-lummis-pushes-for-crypto-regulation-amid-sec-lawsuits/" rel="noopener noreferrer nofollow">U.S.</a> Bitcoin miners have spent $2.7 billion on <a href="https://ultramining.com/news/en/minnesota-man-faces-accusations-of-electricity-theft-for-bitcoin-mining/" rel="noopener noreferrer nofollow">electricity</a>, consuming 20,822 GWh of power. Before Bitcoin’s April <a href="https://ultramining.com/news/en/heat-waves-and-halving-bitcoin-miners-cash-in-amid-rising-prices/" rel="noopener noreferrer nofollow">halving</a>, mining one BTC required 407,059 kWh of electricity, costing approximately $52,144. Post-halving, this increased to 862,635 kWh, costing around $110,503. This energy consumption could charge every electric vehicle in the U.S. 87 times or power 1,983,107 households for a year.
Bitcoin mining in the U.S. has seen a rise in sustainable energy use, reaching an all-time high of 54.5% in January 2024. Sustainable mining increased by 3.6% overall during 2023.
Indiana's strategy underscores its commitment to becoming a hub for the data center and crypto mining industries, leveraging its energy resources to attract major investments.

Indiana Vows Outage-Free Energy for Crypto Miners and Data Centers

Ultramining_Eng

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