Polson City Commission approves sublease
Polson has not historically been a mining town, but a new company could bring a distinctively 21st century industry to Polson: cryptocurrency mining. This week the Polson City Commission voted unanimously to allow the sublease of a building on city property to CryptoWatt Mining LLC. The company “mines” digital currencies (see related sidebar on digital currency mining).
The building is currently leased by Bandi Holdings, LLC. It is located on Kerr Dam Road just south of the Polson sports complex. City Manager Mark Shrives said that CryptoWatt Mining LLC would be “doing cryptomining of some sort. The same thing that’s going on in Butte.”
CryptoWatt LLC is currently mining digital currency in Butte and Anaconda.
There was little discussion about CryptoWatt Mining LLC at the meeting.
Commissioner Bob Martin asked City Manager Shrives about unpaid city taxes on the building that will be subleased. Bandi Holdings LLC, the current lessee, owes these taxes. According to Shrives, Bandi Holdings LLC is currently in negotiations with the department of revenue about payment of the delinquent taxes. Shrives said that the sublease required all taxes from the date of the sublease forward to be paid.
Update on wastewater treatment plant project: Kevin Johnson, project engineer from DOWL-HKM said that to date just over 59 percent of the time and 57 percent of the cost of the new wastewater treatment plant have been completed. Johnson said that most aspects of the project were proceeding as planned. He said that one point of concern was that the material that has been excavated from the site is saturated due to precipitation. Wet material cannot be used as backfill, as it could compromise the stability of the project. Johnson said that an excess of moisture in the coming weeks could delay the crew in backfilling around treatment tanks. This would slow other aspects of the job that rely on that backfill being in place.