Bitzero Plans to Build Headquarters for North Dakota Bitcoin Mining Operations Valued at $500 Million
Bitcoin miner Bitzero is building its headquarters in North Dakota.
The data center will cost the company between $400 million and $500 million and will use heat, a byproduct of its operations, to help the region produce food year-round.
The company has already raised $100 million and is planning an IPO in Canada within the next 60 days.
Bitzero Blockchain Inc., a 100% renewable bitcoin mining company, is making North Dakota the headquarters for its North American operations.
The miner distilled the plans Thursday in a joint press release with the North Dakota governor’s office and notable investors like Kevin O’Leary.
Company officials declared plans to invest $400-$500 million in the next data center and also announced plans to partner with the MHA Nation greenhouse project that will allow heat from Bitzero’s operations to be used for food production. throughout the year.
“Help Main Street, help all citizens, take our state out of reliance on being, as we have been for over 100 years, reliant on state-level revenue,” said North Dakota Governor Doug Burgum.
While the location of Bitzero’s headquarters has yet to be announced, the CEO said it will likely be located in Bismarck or Fargo and employ 15-20 people for operations. The bitcoin miner has plans to generate 200 megawatts (MW) of power in data centers over the next two years.
In addition to the data centers, the company also plans to develop an assembly and distribution center for graphene battery technology that is expected to represent an investment of $200 million to $500 million over the next two to three years.
Bitzero has currently raised $100 million through investment capital with plans to launch a Canadian initial public offering (IPO) within the next 60 days.
“Consolidating a North American headquarters prior to the IPO was a crucial strategic piece for Bitzero, and we plan to begin consolidating operations in North Dakota as we grow,” said O’Leary. “This announcement comes before the announcement of a Montana project scheduled for tomorrow.”