KEARNEY — Representatives of Minnesota-based Compute North and Kearney’s economic development organizations will break ground Wednesday for Compute North’s $7.65 million data center at Tech oNE Crossing.

Compute North helps investors and enthusiasts who trade in bitcoin and other cryptocurrency.

The data center will help cryptocurrency investors with transactions and by storing records of those transactions.

Compute North will be building on a 5-acre tract it is purchasing for $75,000 from the city of Kearney at Tech oNE Crossing.

Nebraska Public Power District will build a substation to provide energy for the data center, which is expected to become one of NPPD’s top electrical consumers in Kearney. To operate and cool its facility, Compute North will need as much as 20 megawatts at any given time.

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Because NPPD leases the city’s electrical lines to deliver its electricity, it is anticipated that bringing Compute North online will boost the $6.4 million in annual lease payments NPPD makes to the city of Kearney by about $528,000.

Compute North will become the third business in Tech oNE Crossing, which currently has the Xpanxion Executive Briefing Center and the 53-acre SoCore solar farm.

Tech oNE Crossing is located at the southeast corner of 56th Street and Antelope Avenue.

Groundbreaking is planned for 10:30 a.m. at 5408 Global Drive, just east of Xpanxion, in the Tech oNE park.

A tent will be set up on the site for the groundbreaking. Attendees are asked to park along Tech oNE Boulevard and Global Drive.

Among people participating in the groundbreaking will be Compute North founders Dave Perrill and John Perrill Sr., as well as representatives from the Economic Development Council of Buffalo County, city of Kearney, NPPD and the Nebraska Department of Economic Development.