It just keeps adding these lines all the time and just gets bigger and bigger, I have to keep deleting it every now and then as it just grows so fast.

>>> CheckStakeKernelHash - hashProofOfStake too much
>>> CheckStakeKernelHash: nTimeWeight = 137076
>>> CheckStakeKernelHash: passed GetKernelStakeModifier
>>> bnCoinDayWeight = 26, bnTargetPerCoinDay=110427836236357352041769395878404723568785424659630784333489133269811200

Edit: I found a workaround by adding this line to the banksycoin.conf file
printtoconsole=1

That basically stops it from writing the log file out in the first place. Just hope there isn't an side effects from doing that though.