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Contract Red Flags
Critical concerns about the proposed Bitcoin mining contract that every College Station resident needs to know
1. Vague Job Promises
The contract contains NO specific job creation requirements or penalties for non-compliance

Compare to Rockdale, TX: Bitmain promised 400-600 jobs, delivered only 14 employees before abandoning the project
Even 'successful' operations like Riot's Rockdale facility employ only ~145 people for a 300 MW facility
2. Easy Exit Clauses
180-Day Escape Hatch
Buyer can walk away during feasibility period (plus two possible extensions totaling 540 days)
Minimal Financial Risk
Only loses $1,000 non-refundable feasibility fee - essentially free option on prime city land
No Accountability
No meaningful penalties if they abandon the project after environmental damage or infrastructure costs
3. Water Crisis Waiting to Happen
1.5M
Gallons Daily
Required for cooling (Section 1.9)
?%
City Usage
Of College Station's entire water supply

No binding requirements for water conservation or drought contingency plans
Proven Pattern of Broken Promises
Jobs Reality Check:
Massena, NY
Promised: 150 jobs
Delivered: 80
Limestone, TN
Promised: "Data center jobs"
Delivered: 0-2 security guards
Adel, GA
Promised: Tech jobs
Delivered: "No money, no jobs except guards"
Noise Nightmares:
Niagara Falls
Residents described noise "like a jet engine" running 24/7
Limestone, TN
County commissioner: "I have never regretted a vote like this one"
Georgia
State representative called crypto farm noise "absolutely atrocious"

Contract has NO specific noise limits or residential buffer requirements
Environmental Disasters:
Water Pollution Crisis
Greenidge, NY: Discharged 139 million gallons/day of heated water into Seneca Lake, caused algal blooms
Power Grid Strain
Georgia officials report mining operations forcing construction of new power plants at taxpayer expense
Critical Questions for Council
Where are the enforcement mechanisms?
The contract lacks specific job targets, noise limits, or environmental standards with penalties.
Why is prime city land being sold for only $150,000/acre?
This appears significantly undervalued for 200 acres in College Station.
What happens when they leave?
Multiple mining operations have abandoned sites after 1-2 years when Bitcoin prices crash, leaving communities with degraded infrastructure.
Why no performance bond?
Given the industry's track record, why isn't the city requiring a substantial bond to cover potential environmental damage or abandonment?

The "Promised vs. Delivered" Score
Research shows mining operations achieve:
  • High promise fulfillment: Only 2 of 12 sites studied (Denton, TX being one exception with strict city control)
  • Low fulfillment: 7 of 12 sites, with communities left with noise, no jobs, and environmental damage
  • Medium fulfillment: 3 of 12 sites, partial benefits but significant compromises
Your Strongest Arguments
"This is a shipping container filled with computers, not economic development" - These facilities are largely automated, requiring minimal staff.
"Once the noise starts, it never stops" - 24/7/365 operation with industrial fans that multiple communities compare to living next to an airport.
"When Bitcoin crashes, they leave" - Bitmain abandoned Rockdale after just months. Argo sold Dickens County facility within a year.
"Our water is too precious to gamble" - 1.5 million gallons daily during Texas droughts is unconscionable.
"Learn from other cities' mistakes" - New York banned fossil-fueled mining. Georgia counties are passing moratoriums. Why would College Station ignore these warnings?
Demand Better
If the council insists on proceeding, demand:
1
Bond
$10 million performance bond
2
Noise Protection
65 dB noise limit at nearest residence (Niagara Falls standard)
3
Water Conservation
Zero municipal water usage - must use closed-loop cooling
4
Community Investment
$5 million community benefit fund upfront
5
Exit Strategy
Right to terminate lease if complaints exceed threshold
The pattern is clear:
Bitcoin mining companies overpromise and underdeliver.
Don't let College Station become another cautionary tale.