Cryptocurrency Crisis in Kentucky: Current Situation
The Bitcoin mining industry in Kentucky, which once occupied 20% of mining capacity in the United States, is declining. This collapse has caused many mining sites to close, and some operators have disappeared due to non-payment allegations, leading to local job losses.
A typical project, Mohawk Energy, involving a state legislator, Brandon Smith, failed to fulfill job promises and is currently facing legal troubles. The area is considering developing AI data centers, with infrastructure advantages and a workforce with twice the Medium number of welders nationwide.
Despite concerns about pollution from high-energy consumption facilities, the Kentucky governor signed the Bitcoin Rights Act in March 2025, protecting digital asset usage rights. The industry is monitoring whether Bitcoin mining can recover through AI transformation.
