Vented crawlspaces are one of the dumbest things to have, especially if you're in the US south.

I'd also leave a few inches more distance between the soil and the wood. Helps keep the termites at bay. At least, you'll be able to see their shelter tubes.

Photo: Brown Exterminating Co.

Well I'm not in the south, im in Ohio.
What should I do with it? You think I should cover it up? What purpose does it serve?

The vent serves no purpose other than to let in humid hot air during the summer, which then moves up into your living space. Seal it closed.

Here is a link that might be useful: New Light in Crawl Spaces