Bitcoin Miner Bitzero to Build $500 Million Headquarters in North Dakota

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Bitzero Plans to Build $500M Bitcoin Mining Operations Headquarters in North Dakota

  • Bitcoin miner Bitzero is building its headquarters in North Dakota.
  • The data center will represent a $400 million to $500 million investment for the company and will use heat, a byproduct of its operations, to help the region produce food year-round.
  • The company has currently 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 of its North American operations.

The miner distilled the plans Thursday into a joint Press release with the office of the Governor of North Dakota and notable investors such as Kevin O’Leary.

Company officials announced plans to invest $400-500 million in the upcoming data center and also announced plans to partner with MHA Nation’s greenhouse project, which will utilize heat from Bitzero operations for year-round food production.

“It helps Main Street, it helps every citizen, it frees our state from the dependence of being, as we have been for over 100 years, dependent on state-level revenue,” the Governor of Dakota said. North, Doug Burgum.

Although 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 mining company plans to build 200 megawatts (MW) of power in data centers over the next two years.

In addition to data centers, the company also plans to develop an assembly and distribution center for graphene battery technology, which is expected to be an investment of $200-500 million over the next two to three years.

Currently, Bitzero has raised $100 million through private equity and 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 critical strategic element for Bitzero, and we plan to begin consolidating operations in North Dakota as we scale,” O’ said. Leary. “This announcement comes ahead of a Project Montana announcement scheduled for tomorrow.”

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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