Fintech: Southeast News

Fintech Southeast News curated each weekday for Alabama, Florida, Georgia, Kentucky, Mississippi, North Carolina, South Carolina, and Tennessee

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Posted November 25, 2021

 

MARTIN COUNTY, Ky. (WYMT) - A recent business partnership in Martin County is drawing attention as it could make Eastern Kentucky a hub for an emerging technology.

State Senator Brandon Smith and other business leaders Martin County teamed up to create a company called Biofuel Mining.

“We are ready and positioned for Kentucky to be the next state with emerging technology,” said Senator Smith. “And uniquely that’s going to be here in Eastern Kentucky.”

The partnership will begin by staffing a 200 person repair center at an Inez power plant. The device this staff will service is called application-specific integrated circuits (ASICs).

These are critical in bitcoin mining operations around the world, and Biofuel Mining has been contracted by Bitmain to do repair work.

 

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