September 21, 2022
Leonard L. Hayhurst
COSHOCTON − A cutting edge technological firm in an emerging industry opened a new facility Monday in Coshocton. It’s one of the largest of its kind in Ohio.
Standard Power held a ribbon cutting at its blockchain and data center at 500 N. Fourth St., on the grounds of the former WestRock papermill that closed in 2015. Standard Power bought the property in October 2018 and former Mayor Steve Mercer first touted the firm coming to town in his State of the City address in January 2019.
The event included exhibits and demonstrations related to immersion cooling, miner maintenance and management and the advantages of having a Bitcoin mining data center in Ohio. Formal comments were made by local and state officials, including Lt. Gov. Jon Husted.
“There’s a natural transition going on between the old way of doing business and the new way of doing business. I find it incredibly ironic this is the site of a former papermill and now it’s a site of digital paper, so to speak,” Husted said. “This site’s legacy is that it needed a lot of energy for its previous function as a papermill and it also requires a lot of energy to do its new function with blockchain technology. We can leverage existing infrastructure for these new types of applications.”
Blockchain is the creation of a public, digital ledger that can be used for data and digital transactions. Because it creates extra security and saves time and cost, the technology is increasingly being used to transfer car titles, record real estate transactions and automate government records. It’s also being used in payment processing, legal contracts, health care recordkeeping, data sharing and digital identification. Ohio law even allows local governments to use blockchain technology.