MORRISTOWN, Tenn. (WATE) — The Morristown City Council has voted unanimously to approve the sale of land to a cryptocurrency mining company after agreements were made about noise levels.
Morristown Mayor Gary Chesney says the decision was made only after some due diligence and controls were set in place with the crypto mining company, Wattum.
Wattum is a U.S.-based crypto mining equipment and “complete mining solutions provider,” according to the company’s LinkedIn, and doesn’t actually dig into the earth; in fact, cryptocurrency mining is the process of creating new digital currencies on specialized computers that verify blockchain transactions; a blockchain is like a ledger of cryptocurrency transactions to keep them secure.
Morristown city councilmembers at the July 19 work session approved the sale of two properties to Wattum that will be crypto mining sites: Five acres at the East Tennessee Progress Center along Power Drive and at the East Tennessee Valley Industrial District...
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