Commission approves significant tax exemption for Bitcoin mining site

March 12, 2026

The Monongalia County Commission recently approved a substantial tax exemption for a Bitcoin mining site, resulting in significant financial implications for the county’s taxing bodies. This decision follows a ruling from the West Virginia Office of Tax Appeals that will result in an exoneration of $494,461.08.

The beneficiary of this tax exoneration is Blockchain Power Corp., an entity that operates Bitcoin mining data centers exclusively in West Virginia, specifically on parts of abandoned coal mine properties such as the Blacksville No. 2 mine. Following the closure of this mine in 2021 and the subsequent loss of 180 jobs, Blockchain Power Corp. intervened when the Monongalia County Assessor’s Office assessed the repurposed site for the 2025 tax year.

The company argued that the site should be subject to a special valuation rate outlined in the West Virginia High-Technology Business Property Valuation Act. This legislation stipulates that properties used for data centers and other high-tech businesses should be assessed for property tax purposes at 5% of acquisition costs or salvage rate, rather than the standard 60%. Despite initial resistance from the state tax commissioner, Blockchain Power Corp. successfully appealed to the Office of Tax Appeals and was granted the special valuation based on additional information provided during the appeal hearing.

Commission President Tom Bloom expressed concerns about the state’s push for incentives for data centers, highlighting the potential unfairness to taxpayers in Monongalia County. He emphasized the need for these businesses to pay their fair share of taxes, especially considering the substantial financial benefits they derive. Bloom’s apprehensions shed light on the broader implications of tax exemptions for high-technology industries in the region.

Reports indicate that Blockchain Power Corp.’s Blacksville operation employs hydrocooling technology, utilizing approximately 200,000 gallons of water from the Monongahela River. The company’s five West Virginia sites are powered by a significant amount of reliable energy, with plans to expand its Bitcoin data center capacity to 200 megawatts and increase its workforce by adding 24 technicians to its existing roster of 45 statewide.

This decision to grant a tax exoneration to a Bitcoin mining site underscores the complex interplay between economic development incentives, property valuation regulations, and local tax policies. As West Virginia continues to attract high-technology businesses, the debate over fair taxation and economic benefits for the community will remain a key point of contention for local authorities and stakeholders.