A $251 million cryptocurrency mining farm is going to be built in Montana, NewsBTC reported.
The Butte-Silver Bow Council of Commissioners voted unanimously (9-0) to allow the Power Block Coin company - a subsidiary of Blue Castle Holdings Inc. - to go forward with the plan to build a campus of high-powered data centres outside of Butte, Montana.
Aaron Tilton, president and chief executive officer of Blue Castle Holdings, Inc. says the company could support other businesses that require large amounts of power.
“Bitcoin (Bitcoin) is the fastest growing segment of cryptocurrency. If it tanks, the same processors can be used for medical research or AI (artificial intelligence),” Tilton told The Montana Standard.
Power Block Coin plans on using 135-megawatts of power for the farming campus – enough energy to power about 20,000 individual homes.
Of the $251 million investment, $8 to $10 million will be spent on new electric infrastructure. $60 million will be spent on between 70 to 200 separate mining units which will use power transmitted through a new substation.
The company expects to break ground this summer and then have the first data center operating within 30 to 60 days.