Cabot and Lonoke County officials hosted a press conference this week to express concerns about a planned crypto mine outside Cabot city limits in Lonoke County. Cabot Mayor Ken Kincade, state Sen. Ricky Hill and Lonoke County Judge Doug Erwin said they hope to stop the facility from being built.
“These centers cause loud noise disturbances and pollution that produce negative effects on our people, pets, wild animals, nature and overall well-being,” Kincade said. “We will not stand for this, and we will fight vehemently to address this company’s efforts. We will join with our neighbors in Lonoke County and our state senators and our representatives and legally do anything within our power to remove this from our community.”
For Hill, the crypto mine’s location near the Little Rock Air Force Base is problematic.
“Why did they pick this facility that’s less than five miles away from our air base? This is a national security concern,” he said.
Erwin has issued the company a cease-and-desist order to halt construction.
“The law allows them to pursue this, but to put in a facility, they have to fulfill certain guidelines, which have not been fulfilled at this point,” he said.
Dustin Curtis, vice president of Interstate Holdings Blockchain, the company behind the mine, told Arkansas Money & Politics recently that the project has met all regulatory requirements.
“Everything is done by the book,” he said. “The proper steps were taken. Sound studies have been done, and we’re just trying to be a responsible company.”
He issued a newsletter debunking what he believes to be myths about crypto mining. The letter states that crypto mining is not environmentally destructive, since it uses excess energy and miners often use renewable energy; is decentralized, allowing small players to participate; is an integral part of the cryptocurrency network; and is more than a “get rich quick” scheme.
“While Bitcoin mining has its challenges and criticisms, it is essential to approach the subject with a comprehensive understanding of its nuances,” the letter states. “Rather than dismissing Bitcoin mining outright, it is important to consider the broader context, the technological advancements it promotes, and its potential to drive positive change in the energy sector and financial systems globally.”
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