CEDAR FALLS, Iowa (KCRG) – Cedar Falls city leaders unanimously voted Monday night against moving forward with proposed zoning ordinance changes tied to cryptocurrency mining facilities.
The Cedar Falls City Council followed the recommendation of the city’s Planning and Zoning Commission and rejected amendments that would have allowed cryptocurrency mining facilities in industrial districts under certain conditions.
The proposal was tied to discussions surrounding a potential cryptocurrency mining facility from Simple Mining.
One of the first people to address the council Monday night was Adam Haynes, founder and CEO of Simple Mining. Haynes argued the proposed facility would bring jobs and additional property tax revenue to Cedar Falls.
He also told council members the facility’s water usage would be roughly equivalent to that of seven homes annually.
But several residents pushed back against the proposal, raising concerns about noise, environmental impacts, energy consumption and water usage.
“It pisses me off that we’re using all this energy to create what?” said Cedar Falls resident and business owner Dave Deibler. “You know, you can’t eat that, you cannot drink it. So once it’s gone, it’s a real problem.”
Despite the ordinance failing Monday night, both residents and city leaders indicated conversations surrounding cryptocurrency mining in Cedar Falls are likely to continue.
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