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Polaris Technologies is opening a cryptocurrency mining facility in Muskogee, where the $100 million investment will bring dozens of tech jobs to the area.

Friday, February 16th 2024, 6:17 pm

A cryptocurrency mining facility is being built in Muskogee.

Leaders with Port Muskogee say it represents a $100 million investment and will bring dozens of tech jobs to the area.

A 200-megawatt data center needs a lot of power. Thats why Oklahoma-based Polaris Technologies will bring its center John T. Griffin Industrial Park in Muskogee.

The data center is mostly made up of these containers that house super-computers tasked with the job of solving complex puzzles to mine Bitcoin, a process that uses a lot of electricity. Polaris Technologies COO Alex Zhang says it will come from a nearby OG&E substation.

"The substation over there has 1 gigawatt capacity so we are not using all of them, just using part of that," Zhang said.

The data center is capable of using 200 megawatts of electricity at peak demand. For context, a Walmart Supercenter uses only 1 megawatt. Zhang said to keep the stress on the power grid low, they will turn off the supercomputers to save energy during peak demand.

"When the residents really need the energy, we'll stop the operation and get the energy back to the residential one," Zhang said.

It's not just servers in a container doing all the work. Zhang says 20 employees will be hired by the time Phase 1 is complete this April,

There are also plans for a repair center that will require around highly trained technicians.

"Those jobs are well-paid and really welcome local folks to get on board and we'll train them and get them paid well," Zhang said.

He hopes to make a positive impact on the community with this huge project and says he is excited to work with local talent.

Phase two expansion will add another 200 megawatt facility, creating 20 more jobs. Polaris says they are still hiring jobs like electricians, plumbers, and repair specialists.

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Oklahoma-Based Company Building Cryptocurrency Mining Facility In Muskogee - News On 6