Cryptocurrency Firms Seek WNY Sites Amid Concerns Over Economic Development Value | Local news

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“Are you ready to do this without work?” Smith asked.

Those who run businesses see it differently.

“We literally employ dozens of local contractors, engineers and technicians,” said Martini-Lo Manto of Blockfusion. “We buy trucks from local dealers, rent homes in Niagara Falls, and pay taxes that support the fire department and local schools. Come visit our facility and you will see it buzzing with energy and 50 to 60 people working on site. It’s a lot of families we support. “

Blockfusion purchased what was once a 52 megawatt coal-fired power plant that served the Goodyear Tire & Rubber Co. plant in Niagara Falls. After several changes of ownership and a few foreclosures, the plant closed in 2015, when it burned wood and tire chips instead of coal.

Martini-Lo Manto said his teams had already spent hundreds of thousands of dollars removing coal and rubber chips from the 200,000 square foot building and renovating it. The computers there use 10 megawatts of electricity from the grid, which he says is mostly hydro from the Niagara Power Project.

“Absolutely no plans to reactivate the power plant,” he said. “We will never burn fossil fuels, including natural gas, at 5380 Frontier, or anywhere for that matter. We have a number of other facilities that we are looking at, but we will not build or even operate a crypto. mining site unless it is powered by green energy. “

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