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Massena considering land purchase offer from company that claims they can create 450-780 jobs

Posted 4/17/19

BY ANDY GARDNER North Country This Week MASSENA -- A holding company is trying to buy a parcel of land from the town that they claim could be used to create 450 to 780 jobs. Petawatt Holdings Inc. …

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Massena considering land purchase offer from company that claims they can create 450-780 jobs

Posted

BY ANDY GARDNER

North Country This Week

MASSENA -- A holding company is trying to buy a parcel of land from the town that they claim could be used to create 450 to 780 jobs.

Petawatt Holdings Inc. made a pitch to buy a parcel of land that sits on two sides of Horton Road, north of county Route 42 near the Grasse River.

Talking to the board via speakerphone, Jason Rappaport from Petawatt said they want to build a cryptocurrency mining facility and data center, and use the heat generated from those computers for a greenhouse that would grow hydroponic fruits and vegetables year-round. He said they also could use the heat to warm tanks that would be used to raise fish for seafood.

Petawatt representative Jeffrey Lyons said if their deal goes through, they will own the land and buildings and negotiate deals with utility companies to get low-cost power.

Petawatt, according to Rappaport, is looking at deals with six companies in Massena. They include two hydroponics companies and a vertical farming company, as well as a technology company and two cryptocurrency mining services.

A presentation only names three of the companies - Bluegreen Farms, Genesis Mining and Quantum Mining. Rappaport cited non-disclosure agreements in not naming the other three.

If things go according to their plans, they would all be open by the end of 2020, according to a presentation. Most of the jobs, 400-750, would be in the agriculture businesses. The rest would be in the data center and cryptocurrency businesses.

The board heard an offer from the company in executive session following the meeting, but took no action on it.

Petawatt features a face some in Massena may recognize. Thomas Gramuglia, who owns Hindsight Records, is involved with them.

Petawatt is currently operating a site in Carthage that's similar to what they want to do in Massena. They have what their presentation described as a "210,000 square-foot co-location facility at the former Metro Paper mill." Businesses located there include Quantum Mining and Genesis Mining, both of which are involved in their plan for Massena.

Petawatt is not the first company to want that land from the town. In February 2018, Blockchain Industries expressed interest in the parcel for a cryptocurrency mining center. They later abandoned the plans when the New York Power Authority put a moratorium on providing electricity to crypto miners.