It's not always clear how cryptocurrencies are changing lives. The unincorporated nature of the blockchain ledger, the fact that crypto wallets are online (and not made of leather), and the limited real-world use cases all make cryptocurrencies, at best, just dumb internet money. It contributes to the general view that But cryptocurrencies, like Ethereum, have a real footprint.
This idea is at the center of a new documentary about Bitcoin mining by former CoinDesker independent crypto media mogul Will Foxley. “The Big Empty,” released today, tells the story of digital asset giant Galaxy Digital’s arrival in Spurs (population: 863), a small city nearly hollowed out in the countryside.
While many stories about Bitcoin mining tend to focus on the industry's huge energy footprint (and whether it's good or bad), “The Big Empty” is first and foremost about the people. About former East Coast Galaxy employees who moved to West Texas and learned to adapt, about locals whose families settled in the area generations ago, and about how new industries changed their lives.
But that discussion seems muted, at least as far as the documentary presents it. The energy configuration of miners and the looming threat of climate change are as immaterial and distant as Bitcoin itself. Residents of Spur seem concerned about the opening of the giant Helios mine just a few miles away, often simply because of the jobs it provides.
“Small towns [bitcoin mines] “Inhabitants often don't have a lot of well-paid or stable jobs,” Foxley said in an interview with CoinDesk. “There may be some retail stores, convenience stores, etc., but not that many.”
While it may be an exaggeration to say that the Galaxy is single-handedly revitalizing the town of Spar, there seems to be no dispute that the Galaxy is making its presence felt. But while the doc highlights the Galaxy's good deeds (like reopening a popular public pool), it's also a story of learning to keep it together and be, as Foxley puts it, “a good neighbor.” . Long distance.
CoinDesk spoke with Foxley about his latest documentary, specifically what drew him to Spar's story, and why giant Bitcoin mines were once best known as a magnet for small homes. He talked about what was suitable for the city. .
I just wanted to say that was a great document, really well done. Do you have any plans to exhibit at any festivals?
I can't take all the credit because it was definitely a very strong team. This will be my third mining-specific film and my fourth Bitcoin documentary. This is my longest film to date, and I personally call it my first short film. I don't know the difference between a short film, a documentary, and a mini-doc. I'll probably submit it to a few film festivals to get more attention. It will definitely be shown at Bitcoin meetups and events If you're going to start some sort of streaming service, you can't go down the social media route. But if someone likes it, they might put it in a nice place.
The story of Bitcoin mining in the United States is, in some ways, a story of rebirth. Can you talk about what you saw when you toured Bitcoin mines around the country?
Bitcoin miners cluster in small towns because they often have energy from surplus industries and cheap electricity from over-built substations and power plants. It is. This is a natural place for Bitcoin miners to chase cheap energy.
The small towns they live in often don't have many good-paying or stable jobs. They don't have any industry at the moment. There may be some retail stores and convenience stores, but not that many. To really revitalize a town, we need some kind of industry.
Bitcoin mining is interesting because there may not be that many jobs per Bitcoin mining. However, a lot of work is being created from outside around this area. The movie features a number of people who work on contracts or come in and out of the facility, including truck drivers, repair technicians, people pouring concrete, and security guards. In terms of facilities alone, the company plans to open a kitchen to feed its 40 employees. That will be 5-10 new jobs.
Do you know how much engineers are typically paid?
Deployment technicians often make twice the minimum wage, or $20 to $30 an hour. We will scale up from there. One cool thing that I couldn't even put in the documentation is that Galaxy pays 20% more than the town rate. Bitcoin mining is a slightly more lucrative industry. As a result, they improved the standard of living for many people while working at blue-collar level jobs.
Was there something special about Galaxy or Helios that drew you to this story?
It's mostly just access. Galaxy was interested in opening its doors. Companies have to be careful about their public image (Galaxy is a publicly traded company), but I was impressed by their willingness to work with the documentary film crew. Because it's not necessarily a pleasant experience.
Second, there's a lot of talk about Bitcoin mining in Texas, but I'm not really interested in it because people tend to focus on the energy or Bitcoin side of things. I was very interested in small town stories and participating in town life. Most of the people we talked to were willing to have a conversation or dialogue right away. That made it even more appealing last year when we expanded our range.
In fact, the day we landed there was a tornado that destroyed a large part of the next town. What was really interesting to watch was how many people drove up from surrounding towns to help them. Miles of cars loaded with supplies were about to enter the small town. It became pretty clear that the people living in these West Texas towns were a completely different breed. they care about each other. They are good neighbors.
If you watch the movie, you'll definitely get that feeling. Especially the small home community scene. What did you want to say by including that scene?
So the movie's original name was actually “Tiny Home Kingdom.” We were trying to emulate something like a tiny house and a giant Bitcoin mine. It sounded good on paper. But going down that path probably requires making the documentation a little more ridiculous. Live in a small house with someone for a week.
Tiny House showed how open Spar is when it comes to collaborating and talking with other communities outside of those typically found in the Texas Panhandle. It opened around 2015 as a base for tiny houses. Many cities have designated areas where tiny homes are off-limits because they are considered a nuisance or are thought to lower property values. Spar was trying to find an angle to get people back. This shows that they are interested in having new neighbors. It's just that the next neighbor to move in happens to be an 800 megawatt Bitcoin mine.
Galaxy also signed a deal to reopen the town's pool. Are these types of investments common in Bitcoin mines?
It's very common for Bitcoin mines to do this. I've also heard that it was a town pool. I've heard of companies renovating their community rec centers. Rockdale Riot Team funds the local softball team. Because again, when you move to a small town like this, you have to be a good neighbor. You have to learn what that looks like, and as a company, that can be a little difficult. This is different from many other technology or finance jobs. This business is actually established in small rural towns where it has been carried on in the same way for generations. The easiest way to include yourself in a community is often to do something hands-on.
Another thing we didn't mention is that Spar, like many low-income places, is a hotspot for drug problems. We tend to think of drugs as an urban problem. But that's just a rural problem. There is not much hope or opportunity. Many people were born in Spur and moved to Lubbock, Austin, and Dallas. And the people there can sometimes feel left out. In a way, this pool is a symbol. It means this big tech company cares about local people.
Have you talked to someone who is concerned about noise pollution?
Not for this site. They have some air units deployed, so that could be a challenge going forward. But for now, this facility is all immersed, and to my knowledge is the largest immersed Bitcoin mine in North America. The good thing about immersion mining is that it is essentially silent. And the mine itself is located in a small area well away from any residential development. It is approximately 16 miles from the city of Spur. And everything there is at least a 20 minute drive. Therefore, as far as I know, there should be no noise complaints.
I think with this film and other work that we do, we want people to think outside the box, how can towns attract businesses, and how can these businesses We want to encourage you to think about how you can contribute to the community. I think Galaxy has done a really good job in that regard. They fulfilled their promise with this pool where everyone was jumping and splashing. That's what he said in the movie, right? For example, if you're not splashing around in the pool this summer, then Galaxy has failed you.
I think Bitcoin mining will become a more important topic for local communities. If Bitcoin miners can't find a better way to balance their business within small towns, more problems will arise. It's okay to say you don't like small towns.
