Revolve Labs, a Colorado-based company, has withdrawn its application to build a cryptocurrency mining facility in Moose Lake, Minnesota. The decision follows public concerns over noise and environmental impacts raised during hearings. City Administrator Ellissa Owens confirmed the withdrawal.
Moose Lake City Administrator Ellissa Owens announced that Revolve Labs has pulled its conditional use permit application for a proposed modular computing complex. The project aimed to develop a cryptocurrency mining operation on two acres adjacent to the municipal power station off Highway 73. Revolve Labs had reached a leasing agreement with the Moose Lake Water & Light Commission for the site.
The Planning Commission had postponed its recommendation on the application last month to allow for further review. Public hearings in January and February highlighted significant opposition, with residents citing noise from cooling fans and potential environmental effects as major issues. Despite the potential for new revenue streams for the city and its power utility, these concerns appear to have influenced the company's decision to withdraw.
The proposal's cancellation marks the end of a contentious local development debate. This remains a developing story, with officials expected to provide further details as available.