Several crypto mining facilities have approached Denton Municipal Electric, apparently looking to follow in Core Scientific's footsteps.
In a presentation scheduled for Tuesday, Bill Shepherd, DME's executive manager of business services, did not name any crypto mining companies, but said he would be working with crypto mining facilities simply called “Top Runners.” It was mentioned that lease negotiations are underway. for 12 months.
It will be a 5-year lease contract with a 5-year renewal option.
On Tuesday afternoon, DME will hold a work session with the Denton City Council to discuss next steps toward finalizing the lease and obtaining approval. Zoning changes may be required depending on the location of the property.
DME spokesman Stuart Birdseye was unable to obtain the name of the cryptocurrency mining company Friday evening after the city staff's weekly report to City Council was posted online at 5 p.m.
According to a report from staff, the cryptocurrency mining facility will be a “modular data center” with 20 megawatts of high-speed computing for Bitcoin mining.
DME says this is consistent with the City of Denton's economic development plan and will directly benefit Denton as it will generate an estimated $2.5 million in net benefits over the next five years, assuming the facility opens on April 1st. It is claimed that it will be.
The estimated revenue for other fees, such as franchise fees, is $4.8 million over five years, according to Shepard's presentation.
No mention was made of reducing noise pollution from large data centers, which is a community concern in Hood County.
