CandleFocus Bitcoin miner Revolve Labs proposes $60m data center in Minnesota
2024-10-21
Author: Content Editor
Colorado-based Bitcoin mining company Revolve Labs plans to build a $60 million data center in Glencoe, Minnesota to expand its mining capacity. The facility would include AI data centers, cooling systems, and backup generators to support Bitcoin processing while addressing concerns about noise pollution. The project is in the preliminary planning stages and could cost between $40 million and $60 million. The Federal Reserve Bank of Minneapolis published a working paper recommending governments either ban or tax Bitcoin to maintain permanent primary deficits. Mining facilities in Glencoe have faced controversy due to noise levels, but Revolve Labs' operations have brought economic benefits to the city, generating over $500,000 in net annual revenue.
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