Bitcoin Mining Facility Burns In Fire

By Anthony • January 11, 2025 10:27 am • Comments

A Bitcoin mining facility caught fire in Grundy County, Iowa, earlier in the week.

Firefighters from Wellsburg and Grundy Center responded to a fire at the MiningStore facility and reported the fire had vented through the top of the building.

MiningStore is a Texas-based company that has opened up operations in Iowa.

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MineStore’s website states it’s an “industrial-scale cryptocurrency mining facility, which uses energy generated from a partnership with the Grundy County Rural Electric Cooperative, had 1,700 crypto-mining computers with nine on-site engineers maintaining the on-site servers.”

Per Times-Republican:

Grundy County fire crews responded to a fire at a Bitcoin-mining facility west of Grundy Center on Sunday night.

Firefighters from Wellsburg, Holland and Grundy Center responded to a call at the MiningStore facility located just north of the Highway 14/175 junction about eight miles west of Grundy Center at approximately 6:15 p.m. Sunday night, according to Grundy County Emergency Management Coordinator Chase Babcock.

Babcock added that, when crews arrived on the scene, fire had already vented through the top of the hoop building on the property.

According to MiningStore’s website, the industrial-scale cryptocurrency mining facility, which uses energy generated from a partnership with the Grundy County Rural Electric Cooperative, had 1,700 crypto-mining computers with nine on-site engineers maintaining the on-site servers. Babcock said no injuries were reported at the scene.

MiningStore, a Texas-based company, opened the Grundy County facility in 2020. A representative from MiningStore could not be reached for comment at press time on the extent of the damage to the mining site or future plans for the location.

Per The Gazette:

The Gazette reported in 2022 that the Grundy County facility, which opened in 2020, was one of Iowa’s first bitcoin mining facilities.

The company’s founder and chief executive officer, J.P. Baric, said he chose to build in Grundy County because of low energy costs. In 2022, the facility used more electricity than all the residential customers in Grundy County, population 2,800, combined. Baric said the daily electricity bill was about $5,000.

A representative from MiningStore could not be reached for comment about the extent of the damage to the mining site or future plans for the location.

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