Latest news with #Holley
Yahoo
3 days ago
- Business
- Yahoo
Bitcoin mining impacts Northeast TN from Limestone to Mountain City
LIMESTONE AND MOUNTAIN CITY, Tenn. (WJHL) — Mountain City Mayor Jerry Jordan sees multiple potential benefits if a Bitcoin mine comes to his town, but says 'I don't want to get snaked' by any unexpected negatives. County commission OKs Bitcoin lawsuit settlement 'My reputation's on the line. I've lived here practically all my life, and I don't want to bring something in here that's going to be detrimental to this community and this town,' Jordan told News Channel 11 Wednesday. Early that morning, Preston Holley stood across Lola Humphreys Road from Northeast Tennessee's only active Bitcoin mine, in the New Salem community of Washington County. With a constant drone emanating from the fans that cool racks of computers — the machines that perform complex calculations to 'mine' for Bitcoin, a cryptocurrency — Holley had a suggestion for Jordan and his community. 'I would caution any community who's being told that this kind of a facility is going to be built to make sure that they (the Bitcoin company) hold themselves accountable for everything that they say they're going to do, but not to trust anything as far as the noise levels go,' Holley said. 'There will be noise no matter no matter what technology they use to dampen it.' Speaking of dampening, the company wanting to put a mine in Mountain City says it plans to use a newer cooling technology if it opens a facility there. CleanSpark, a national company that focuses specifically on mining Bitcoin, the most popular cryptocurrency, has been in talks with community leaders in Mountain City about opening a 30 megawatt mining facility just off Highway 421 south of downtown. 'We are known in the industry as innovators in immersion cooling,' CleanSpark Senior Vice President Harry Sudock told News Channel 11 in an email. 'Some deployments have significant noise mitigation benefits and those would be the designs we intend to deploy in Mountain City.' Assurances from Jordan and Mountain Electric Cooperative CEO Rodney Metcalf — the utility would sell the massive amounts of electricity needed to power the computers that race to unearth new Bitcoins or verify crytpo transactions — haven't yet put a stop to community opposition. Dozens of people turned out at a meeting earlier this month to voice concern over everything from noise and health impacts to strain on the power grid and a low number of projected jobs. 'I'm going on 16 years (as an elected town representative) and I've never seen anything like this before,' Jordan said. Holley's community was hit unawares when a company called GRIID started operating the 20MW mine just off Bailey Bridge Road in early 2021. BrightRidge, the utility selling it power from an adjacent substation, had told Washington County commissioners only that it was planning to open a 'blockchain data center' when it applied for a rezoning in 2020. Once the noise began, the community rose up. 'This was normally a quiet, peaceful place to be,' Holley said. 'You heard the birds. You heard farm sounds. Now we sound like we're on a four-lane highway. There's a constant sound of these fans running. There's no tuning it out.' Commissioners, angered at the lack of early transparency, learned that the company may have built without a permit and that became the basis for a lawsuit. GRIID settled, offering to pay fines until closing the mine no later than March 2026. Eventually, CleanSpark bought GRIID, which was heavily in debt. Mountain City's been grappling with the Bitcoin issue ahead of time. CleanSpark was open in its talks with Mountain Electric, which could use a large power customer to offset the loss of Parkdale Mills, which closed late last year. Planning commissioners discussed the proposal openly, and asked CleanSpark for more specific site plans and additional details. 'I said, you know, the one in Limestone is a disaster, and they offered I could come down there and look at (an operating facility that uses liquid cooling),' Jordan said. 'So we we took them up on their offer.' A delegation of local leaders visited a facility in Norcross, Ga. that uses liquid cooling. Jordan, who took a decibel-reading app, said he came away convinced a facility housed inside a large building and using liquid cooling could operate without reaching nuisance levels of noise. Asked whether the company could have simply dialed back the intensity of 'mining' taking place to reduce the need for cooling, Jordan admitted that was a possibility. 'They assured me they would be a good community partner, so I'll take them at their word,' Jordan said. 'We reviewed the facility and looked at it. I don't see a problem with it.' Next up is a town-funded charter bus trip June 16 so citizens themselves can check out the Norcross facility. 'We want to do our due diligence,' he said. 'We want people to see what we saw.' CleanSpark's Sudock said the company 'understand(s) that past experiences have created community concerns, and that's why we are committed to transparency and education around how our facilities are designed.' He said the company 'conducts comprehensive sound studies' to determine potential impacts and ultimately 'design facilities that integrate seamlessly into the community and support a peaceful, low-impact environment.' He said CleanSpark is continuing to engage with the Mountain City and hopes to share more about operations and the company's track record 'to help address concerns and build understanding.' He said the company's approach 'has always been to listen first and proceed only where there's mutual interest.' Concerns about stress on the power grid have been expressed across the country where Bitcoin mining is concerned — as well as data centers that support artificial intelligence — and that's no different in Mountain City. Sudock said CleanSpark facilities can easily ramp down during peak demand 'to support the broader system,' and in fact did so during recent hurricanes in Georgia. He said in the Tennessee Valley Authority region, CleanSpark is among the largest participants in TVA's 'Powerflex' program, which he said directly benefits all ratepayers. BrightRidge offered Bitcoin mine operator $100,000 incentive, said noise wouldn't be issue 'In addition, we contribute meaningfully to local tax bases, provide steady revenue to local utilities which helps stabilize household energy costs, and we are proud to support community programs through donations and sponsorships,' Sudock said. Jordan said he reckons the personal property tax from an eight-figure investment in equipment is likely to bring more than $100,000 to town coffers, and even more to Johnson County. While the number of jobs created isn't high, Jordan thinks the wages will be very competitive — and he'd like to see conditions requiring most of those jobs go to local people. 'If the noise isn't an issue and it's safe and it only creates 12 jobs, those are 12 jobs we don't have and they will be good wages,' Jordan said. The preliminary site plan calls for a building about 400 by 60 feet (roughly 24,000 square feet). The earliest a Planning Commission okay could come would be June 27, more than a week after the public trip to Norcross. In Limestone, Holley is looking forward to the mine's closure in less than a year — even though that means the free fiber internet BrightRidge has provided as part of the settlement won't be free anymore. But BrightRidge recently placed a moratorium on new data centers (including Bitcoin mines) after an outcry in Johnson City, where residents feared CleanSpark was planning to build a replacement for the Limestone mine. Holley said he hopes that doesn't create a temptation for BrightRidge and CleanSpark to keep the current mine open past next March. 'The other communities where they're wanting to put these facilities are also in opposition to them and understandably so,' Holley said. 'So if that slows down the process, yeah, I wouldn't like that. But at the same time, I don't want this on any community.' For Holley, it's all going to come down to whether CleanSpark stands by its claims of wanting to be a positive impact on the communities where it operates. Much of that, he said, revolves around noise. Sudock said the company is investing in 'advanced noise mitigation technologies, including immersion cooling, site design enhancements, and emerging acoustic cancellation tools.' He called those efforts 'a core part of our engineering process, not an afterthought' due to the company's desire for its facilities 'to blend into the community.' Holley said if he were a Mountain City resident with a chance to visit a facility and talk to company representatives, 'I'd sure like to to know more about it.' But he said a company-arranged trip to another Bitcoin mine site would only be 'a nice start.' 'Seeing one might tell us a little bit, but I'd like to talk to the community members and people around there to find out, 'how exactly has this affected you?' Because, you know, (CleanSpark's) side is one thing. I'd like to hear from the people who have to be there every day.' Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Wales Online
15-05-2025
- Business
- Wales Online
Swansea's former Debenhams store is to be refurbished but questions are being asked
Swansea's former Debenhams store is to be refurbished but questions are being asked The work in Swansea will pave the way for three new tenants, but there are some concerns being raised A view of the empty Debenhams store in Swansea (Image: Richard Youle ) Council chiefs have authorised work to strip out and refurbish Swansea's empty Debenhams store prior to occupation by tenants, but were challenged about why the costs weren't being made public. Cabinet members noted a report in open session about the revamp planned at the Quadrant Shopping Centre building, which the council bought two years ago, and then considered a report in private session. Speaking in the open part of the meeting, council leader Rob Stewart said his administration's plans to "build a better Swansea for everyone" had been impacted by the Covid pandemic and cost-of-living difficulties which, he said, had done "irreparable damage" to high streets everywhere. He said significant efforts had been made to help keep the Debenhams store open and that when it hadn't proved possible the council sought to do as much as it could, given that it was part-owner of the Quadrant Shopping Centre. Cllr Stewart said he was very pleased that three tenants had been secured - two retailers based in a subdivided space on the ground floor and a leisure operator on the floors above. He said: "This is hugely important in terms of the impact it would have on the city centre - the loss of Debenhams was significant." Despite no costs being given, Cllr Stewart said the council was committed to options which offered the best possible value for taxpayers. Never miss a Swansea story by signing up to our newsletter here Addressing cabinet at the start of the meeting, leader of the opposition Chris Holley asked for an explanation about the exclusion of the press and public for the second report on Debenhams. Article continues below Cllr Holley said he acknowledged contractual issues but said he felt the time had come for costs to be made public by the Labour administration at an earlier stage than after a project was finished or some time after it had finished, as he said they were currently. "Why again do we have this particular item 'in camera' to give out a total cost?" asked the Swansea Lib-Dem leader. He said this didn't used to be case, and recalled when he was council leader being "condemned" by the then opposition for not being upfront about the cost of renovating the LC. Cllr Holley said he'd made public that the LC project was costing £25 million. Cllr Stewart said in the case of Debenhams the authority was still in legal negotiations with the three tenants who, he said, did not want their identities to be made public yet. He said he was sure no councillor would want to jeopardise the situation "by souring a deal that we've worked so hard to create". The Swansea Labour leader also said not revealing what the council's budget was for a project protected the interest of the taxpayer as contractors would bid on the basis of the scheme's requirements rather than a numerical figure. Cllr Stewart added that it would have been the case that certain information was redacted from reports when Cllr Holley led the council. The former Quadrant Shopping Centre entrance of Debenhams as it is now (Image: Richard Youle ) Cllr Holley accepted what Cllr Stewart said about the timing of making certain information known, and said he hoped there'd be an opportunity to discuss it further. He said he felt "blindly going forward with projects" then telling the public at some stage what they cost "is not a good way forward". It is hoped the new Debenhams tenants will move in early next year, and that the taxpayers' investment in the building will be recovered over the lifetime of the lease. The council purchased the building for £3.15 million, and in January last year Cllr Stewart said Welsh Government funding of £4.5 million had been provided to date for the acquisition and for refurbishment work. Article continues below Andrew Douglas, manager of business group Swansea BID, said: "We're delighted to see three new businesses moving into the former Debenhams unit – it's a real vote of confidence in Swansea city centre. "This kind of investment brings fresh energy and variety to our high street, and it's exactly what we want to see. These new openings will undoubtedly boost footfall, attract a wider range of visitors, and support the continued growth of surrounding businesses."
Associated Press
14-05-2025
- Automotive
- Associated Press
Holley Performance Brands to Expand Ford Fest with New Truck and Off-Road Experiences
BOWLING GREEN, Ky.--(BUSINESS WIRE)--May 14, 2025-- Holley Performance Brands (NYSE: HLLY), a leader in automotive aftermarket performance solutions, is expanding its annual Ford Fest from a Mustang-centric event into a full-throttle celebration of all things Ford – with expanded truck and off-road experiences that tap into the surging growth of enthusiasts for Bronco and F-150 platforms. The 7th annual Ford Fest is an action-packed weekend of drag racing, off-road adventures and high-energy motorsports competitions. As the grand finale in Holley's nationwide series of flagship events, the highly anticipated festival will take place from September 26-27, 2025, at Beech Bend Raceway Park in Holley's hometown of Bowling Green, Kentucky. This press release features multimedia. View the full release here: The 7th annual Ford Fest will take place from September 26-27 at Beech Bend Raceway in Bowling Green, Kentucky. The announcement of the expansion comes after news that Holley Performance Brands would take full ownership of Ford Fest, after several years of hosting the event in partnership with the NMRA World Finals. 'As Ford Fest enters a new era, we're taking performance, safety, fun and excitement to the next level for Ford enthusiasts,' said Matthew Stevenson, President & CEO, Holley Performance Brands. 'Modern truck and off-road event experiences have become some of our most popular, so we're pushing the limits this year with new off-road Bronco challenges and bigger truck competitions. If you're passionate about Ford performance, this is the ultimate weekend to experience it firsthand.' Fest Firsts and Fan Favorites Ford Fest 2025 will introduce an array of new experiences for the truck and off-road enthusiast audience, including off-road skill training, obstacle courses and expert-led sessions on off-road driving and vehicle recovery for Bronco owners. Additionally, an all-new drag racing class called Truck Warz will provide even more competitive excitement for truck enthusiasts. Past Ford Fest fan favorites on the schedule include drag races, drift exhibitions, autocross, car shows and the wildly popular burnout contest. Additionally, a brand-new drag racing class will debut for vehicles powered by Ford's latest engine, the Godzilla, giving enthusiasts the chance to showcase how much performance they can unleash from this exciting platform. Exciting Performance Products on Display Attendees can also explore a wide range of product offerings tailored specifically for Ford performance and customization. The lineup includes innovative solutions from Holley's iconic brands to help Ford owners build faster, safer and more capable vehicles, such as: With an estimated 20,000 attendees, 2,000 participating vehicles and more than 50 vendors and sponsors showcasing the latest Ford parts, accessories and technology, Ford Fest continues to grow as a premier event in the performance automotive space. For more information about Ford Fest, including participant registration and spectator tickets, click here. For more information about Holley's lineup of flagship events in 2025, click here. For more Holley company news, click here. About Holley Performance Brands Holley Performance Brands (NYSE: HLLY) leads in the design, manufacturing and marketing of high-performance products for automotive enthusiasts. The company owns and manages a portfolio of iconic brands, catering to a diverse community of enthusiasts passionate about the customization and performance of their vehicles. Holley Performance Brands distinguishes itself through a strategic focus on four consumer vertical groupings, including Domestic Muscle, Modern Truck & Off-Road, Euro & Import, and Safety & Racing, ensuring a wide-ranging impact across the automotive aftermarket industry. Renowned for its innovative approach and strategic acquisitions, Holley Performance Brands is committed to enhancing the enthusiast experience and driving growth through innovation. For more information on Holley Performance Brands and its dedication to automotive excellence, visit View source version on CONTACT: Media Relations Contact(s): Jordan Moore,[email protected]/ Sydney Goggans,[email protected] Relations Contact(s): Anthony Rozmus / Neel Sikka Solebury Strategic Communications 203-428-3224 [email protected] KEYWORD: UNITED STATES NORTH AMERICA KENTUCKY INDUSTRY KEYWORD: MOTOR SPORTS AFTERMARKET SPORTS AUTOMOTIVE AUTOMOTIVE MANUFACTURING MANUFACTURING OTHER AUTOMOTIVE PERFORMANCE & SPECIAL INTEREST OFF-ROAD TRUCKS & SUVS SOURCE: Holley Performance Brands Copyright Business Wire 2025. PUB: 05/14/2025 08:30 AM/DISC: 05/14/2025 08:29 AM
Business Wire
14-05-2025
- Automotive
- Business Wire
Holley Performance Brands to Expand Ford Fest with New Truck and Off-Road Experiences
BOWLING GREEN, Ky.--(BUSINESS WIRE)-- Holley Performance Brands (NYSE: HLLY), a leader in automotive aftermarket performance solutions, is expanding its annual Ford Fest from a Mustang-centric event into a full-throttle celebration of all things Ford – with expanded truck and off-road experiences that tap into the surging growth of enthusiasts for Bronco and F-150 platforms. The 7th annual Ford Fest is an action-packed weekend of drag racing, off-road adventures and high-energy motorsports competitions. As the grand finale in Holley's nationwide series of flagship events, the highly anticipated festival will take place from September 26-27, 2025, at Beech Bend Raceway Park in Holley's hometown of Bowling Green, Kentucky. The announcement of the expansion comes after news that Holley Performance Brands would take full ownership of Ford Fest, after several years of hosting the event in partnership with the NMRA World Finals. 'As Ford Fest enters a new era, we're taking performance, safety, fun and excitement to the next level for Ford enthusiasts,' said Matthew Stevenson, President & CEO, Holley Performance Brands. 'Modern truck and off-road event experiences have become some of our most popular, so we're pushing the limits this year with new off-road Bronco challenges and bigger truck competitions. If you're passionate about Ford performance, this is the ultimate weekend to experience it firsthand.' Fest Firsts and Fan Favorites Ford Fest 2025 will introduce an array of new experiences for the truck and off-road enthusiast audience, including off-road skill training, obstacle courses and expert-led sessions on off-road driving and vehicle recovery for Bronco owners. Additionally, an all-new drag racing class called Truck Warz will provide even more competitive excitement for truck enthusiasts. Past Ford Fest fan favorites on the schedule include drag races, drift exhibitions, autocross, car shows and the wildly popular burnout contest. Additionally, a brand-new drag racing class will debut for vehicles powered by Ford's latest engine, the Godzilla, giving enthusiasts the chance to showcase how much performance they can unleash from this exciting platform. Exciting Performance Products on Display Attendees can also explore a wide range of product offerings tailored specifically for Ford performance and customization. The lineup includes innovative solutions from Holley's iconic brands to help Ford owners build faster, safer and more capable vehicles, such as: Simpson and RaceQuip safety gear – including helmets, fire suits, head and neck restraints and harnesses that provide critical protection on the track. Flowmaster performance exhaust systems – engineered to deliver aggressive sound and increased horsepower for Ford Mustangs, trucks and classic models. DiabloSport and Edge tuners and electronics – offering precision tuning and real-time vehicle data monitoring to unlock hidden performance in Ford gas and diesel engines. Godzilla engine swap solutions – providing components and support to help enthusiasts integrate Ford's powerful 7.3L V8 into a variety of performance builds. Holley EFI fuel management systems – providing reliable fuel delivery and engine management for everything from street-driven classics to full-blown race builds. With an estimated 20,000 attendees, 2,000 participating vehicles and more than 50 vendors and sponsors showcasing the latest Ford parts, accessories and technology, Ford Fest continues to grow as a premier event in the performance automotive space. For more information about Ford Fest, including participant registration and spectator tickets, click here. For more information about Holley's lineup of flagship events in 2025, click here. For more Holley company news, click here. About Holley Performance Brands Holley Performance Brands (NYSE: HLLY) leads in the design, manufacturing and marketing of high-performance products for automotive enthusiasts. The company owns and manages a portfolio of iconic brands, catering to a diverse community of enthusiasts passionate about the customization and performance of their vehicles. Holley Performance Brands distinguishes itself through a strategic focus on four consumer vertical groupings, including Domestic Muscle, Modern Truck & Off-Road, Euro & Import, and Safety & Racing, ensuring a wide-ranging impact across the automotive aftermarket industry. Renowned for its innovative approach and strategic acquisitions, Holley Performance Brands is committed to enhancing the enthusiast experience and driving growth through innovation. For more information on Holley Performance Brands and its dedication to automotive excellence, visit
Yahoo
09-05-2025
- Business
- Yahoo
Holley price target lowered to $2.75 from $4.50 at Telsey Advisory
Telsey Advisory lowered the firm's price target on Holley (HLLY) to $2.75 from $4.50 and keeps an Outperform rating on the shares. While the company navigating a difficult industry environment, core sales increased in Q1 and the company gained market share, the analyst tells investors. The firm expects the company to continue gaining market share and return to growth in 2H of 2025. Discover companies with rock-solid fundamentals in TipRanks' Smart Value Newsletter. Receive undervalued stocks, resilient to market uncertainty, delivered straight to your inbox. Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>> See Insiders' Hot Stocks on TipRanks >> Read More on HLLY: Disclaimer & DisclosureReport an Issue Holley price target lowered to $2.25 from $3.50 at Raymond James Holley price target lowered to $5 from $6 at Canaccord Holley Inc. Reports Robust Core Business Growth in Q1 2025 Holley's Strategic Resilience Amid Market Challenges Supports Buy Rating Holley reports Q1 EPS 2c, consensus 5c Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
