In a report appearing in Montana Standard, Power Block Coin LLC have announced that they will be investing $250 million to improve existing facilities to start mining Bitcoin. The company plans to move to Montana Connections, which is a special tax district located on the western side of Butte. The decision by the company has received massive support from Butte-Silver Bow Council of Commissioners, who voted unanimously to allow the company to construct a site of high-powered data hubs in Montana Connections.
The company plans to bring about 135 megawatts of power to the site. Part of the deal is the construction of a substation in Montana Connections. The $251 million deal involves construction costs of $8-10 million for fresh electric infrastructure inclusive of the new substation, which will be operational after 2 years.
Not just any electrical capacity, all electricity is not created equal. Blockchain mining power has to be globally cost competitive, readily available and quickly scalable. It also has to have the right power load profile, accompanied with dependable existing infrastructure, at the appropriate locations hence the high costs,
Explained Mr. Tilton, the company’s CEO.
What’s in Store for Montana?
Tilton says that they will start the project in the coming summer and they are hopeful that the inaugural data center will be operational within two months. “We plan to use $60 million to establish between 70 and 200 units”, said Tilton in a report to Bitcoin News. The units will be of different sizes, ranging from warehouses to shipping containers. Apart from providing ready units for the Montana residents, about fifty people will be employed by the company once the project is finished. In a statement to Montana Standard, Tilton said the salaries will range from $37,000 to $48,000 annually. The project will also support other businesses in the area that need huge amounts of power like various forms of medical research and artificial intelligence.
It’s not just a bitcoin facility. We’re not buying into bitcoin. They’re an aggregator, a campus to allow additional users to come in and use power,
Said the county’s TIFID administrator, Kristen Rosa.
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