finbold.com
As the cryptocurrency market expands across countries and industries and concerns over its environmental impact give rise to restrictive policies, one U.S. state has welcomed a green Bitcoin (BTC) mining company into its fold.
Indeed, the North Dakota officials have agreed that their state becomes the home of Bitzero – a 100% renewable Bitcoin mining company “driven by green power source, disruptive innovation, and technology.”
The news was announced in a joint press release by Bitzero and the office of the North Dakota governor on June 1.
Specifically, the deal was made between the state governor Doug Burgum, Bitzero Strategic Investor Kevin O’Leary, Bitzero CEO Akbar Shamji, and Mandan, Hidatsa and Arikara (MHA) Nation Chairman Mark Fox.
Running green Bitcoin mining operations out of North Dakota
This deal would allow Bitzero to establish its headquarters on the North Dakota soil and make it a hub for all of the company’s North American operations.
The Bitzero CEO explained the company’s plans in more detail, saying that it was planning to build 200 megawatts of data centers in the state over the next two to three years “with a specific purpose of servicing state data requirements.”
An investment of $400 million to $500 million will fund the data centers, while the company is also involved in a joint graphene battery technology project that will also be brought to North Dakota in a $200 million to $500 million investment over the next two to three years. As for the HQ itself, it will employ 15 to 20 people, according to Shamji.
Additionally, the North Dakota governor expressed his assurance that:
“Bitzero’s decision to locate its North American headquarters in North Dakota is yet another example of how our state is emerging as the location of choice for clean energy data centers supported by reliable, affordable electricity produced with environmental stewardship. This growing industry will continue to diversify our economy and elevate North Dakota’s status as the place to do business for tech entrepreneurs and innovators.”
On top of this, Bitzero plans to partner with MHA Nation for the organization’s greenhouse project, in addition to being involved in multiple discussions for other projects, which they expect to realize in the next several months, the press release said.
The announcement about the usage of green energy in Bitcoin mining in North Dakota comes at a time when the New York State Senate has just approved a measure to ban Bitcoin mining for a minimum of two years due to worries about its impact on the environment.