Fayetteville Cumberland County Economic Development Corporation is excited to announce that California-based data mining company Plan C Crypto will open a Regional Headquarters facility in Fayetteville, North Carolina. Plan C Crypto is expecting to commence operations in the third quarter of 2022.
The Fayetteville site will be the company's fourth mining facility in North Carolina as it seeks to expand demand response facilities across the United States. The leading-edge project will be in an already-existing, industrial-zoned facility.
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, featuring yearly salaries that are significantly higher than the county average. The company is targeting military veterans and spouses as potential employees for the positions.
“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, CEcD, FCEDC President & CEO. “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. We are grateful for the support of Elaina Ball, CEO and General Manager of Fayetteville Public Works Commission and her team, and for the hard work of FCEDC Vice President Rob Patton, whose efforts were critical in bringing this project to our community. Announcements like these would not be possible without the support we receive from the City of Fayetteville and Cumberland County.”
Plan C Crypto’s CEO Antonio Bestard stated that the company is excited to invest in the area: “Fayetteville has everything we want to see for a world-class facility, including a business-friendly climate, strong existing infrastructure, and talented workforce.” He added, “We will use demand response proof of work mining to bring zonal grid stability at the substation level and bring high-paying jobs to the region.”
“This is a great example of community collaboration and how public power is a huge benefit to local economic development. 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,” said Ball about the company’s announcement.
The global cryptocurrency market has seen unprecedented growth because of the global impact of COVID-19. While the market is expected to return to pre-pandemic levels once the pandemic is over, it is projected to grow from $910.3 million in 2021 to $1,902.5 million in 2028 at a Compound Annual Growth Rate (CAGR) of 11.1% in forecast period, 2021-2028.