The El Centro, California-based data mining company Plan C Crypto has announced plans to open a regional headquarters in Fayetteville during the third quarter of this year, creating an opening for 19 jobs with the expectation of more to follow.
This will mark the first of its kind for Cumberland County, according to the Fayetteville Cumberland County Economic Development Corp., but will be the company’s fourth overall mining operation in North Carolina as it seeks to open more facilities across the United States.
The global cryptocurrency market has seen unprecedented growth because of the global impact of COVID-19, a news release said.
In a release from the Economic Development Corp., Plan C Crypto describes itself as “a data mining company dedicated to serving the public power grid by bringing zonal stability to it. Through their demand response programs, they are able to allow public utilities to buy more green baseload power.”
With zoning stability, the company gives localized control to the utility company to better balance its power load, Plan C Crypto CEO Antonio Bestard said Monday.
The company’s goal, according to its website, is to build 100% demand response facilities: “We are dedicated to becoming an asset to the power grid, allowing for utilities to purchase more green power and further decarbonize the grid.”
The Fayetteville mining facility will operate from an existing, industrial-zoned building in the southern end of the city. Bestard declined to be more specific, citing the security risk of revealing the location.
“Fayetteville has everything we want to see for a world-class facility, including a business-friendly climate, strong existing infrastructure and talented workforce,’’ Bestard said in the release.
In a phone interview, Bestard said the Fayetteville facility will become the company’s centralized hub, not only in North Carolina but for operations nationwide. As a result of its location close to Fort Bragg, he added, the company plans to train talent from the Fayetteville site.
Plan C Crypto expects to create 19 jobs in 2022, with more to follow, for skilled professionals in the electrical, security and information technology fields. Should things go as expected, the number of overall jobs could top out around 175 to 250 employees over the next two to three years, Bestard said.
The Fayetteville positions will have yearly salaries that are significantly higher than the county average, the company said in the release.
Plan C Crypto said it is targeting military veterans and spouses as potential employees.
“Attracting high-tech jobs and new investments to Cumberland County and Fayetteville is a major priority for our community, and this announcement is an indication that we are achieving results,” said Robert Van Geons, the president and CEO of the Fayetteville Cumberland County Economic Development Corp. “Our region is an ideal location for innovative companies focused on business growth. By opening its regional headquarters here, this cryptocurrency facility shows we are a competitive location for technology-driven operations.’’
He also expressed thanks to Elaina Ball, CEO and general manager of the Fayetteville Public Works Commission, and her team for their work on the project.
“This is a great example of community collaboration and how public power is a huge benefit to local economic development,’’ Ball said in the statement. “Plan C Crypto has unique energy requirements, and PWC is able to meet their needs for reliable, affordable electric service in a timeframe that helped facilitate them, not only locating their business in Fayetteville but also redeveloping vacant property.”
Michael Futch covers Fayetteville and education for CityView TODAY. He can be reached at email@example.com. Have a news tip? Email news@CityViewTODAY.com.