Weathersfield seeks company’s plans after its $4.2M purchase of property
Weathersfield Township officials are waiting to welcome the newest generation of miners to town.
Unfortunately, Akron-based Magellan Scientific LLC hasn’t accepted its invitation, according to township administrator David Rouan.
According to its website, magellanscientific.com, the company supports the crypto mining industry.
On March 31, it purchased five parcels where the vacant Ohio Edison plant stood for $4.2 million.
“We were unaware that they were buying the property,” Rouan said Monday. “We’re delighted that they have. It appears that they generate their own power for their mining operations for data mining.
“But they have not reached out to the township to discuss their plans.”
Representatives from the Trumbull County Planning Commission and Valley Economic Development Partners also said Magellan had not contacted them for assistance in any potential project.
Calls to co-founders Chris Halvorson and Mark H. Van Tyne for comments were not returned.
The company said it “focuses on off-grid, decentralized digital asset production in North America. Our operations support the expanding digital asset infrastructure and advanced computing systems within the United States.”
Its website states the company uses technologies to “reduce strain on electrical grids” and “decrease or eliminate the carbon intensity per (megawatt) of the electricity we generate.”
The systems Magellan offers to crypto mining operators looking to acquire bitcoin are powerful.
In a news release detailing efforts in fourth quarter 2021 and the first quarter 2022, Magellan outlined the acquisition of 1,600 application-specific integrated circuit (ASIC) mining servers. It also touted, at the time, of being able to generate 100 megawatts of power in Ohio and Pennsylvania.
That much electricity can power approximately 50,000 to 100,000 homes, according to various internet energy calculators.
“We will continue to build out our capacity which has the potential to support the operations of nearly 30,000 ASIC servers,” Halvorson said at the time of the news release.
Rouan said a township trustee attempted to contact the company.
“I’m quite certain that they’ll get in contact with us when they’re ready to progress on their claims,” he said.
“We hope they make an investment in the community.”