Bitzero is planning to build the central headquarters for bitcoin mining operations in North Dakota valued at $500 million
- Bitcoin miner Bitzero is building its headquarters in North Dakota.
- The data center will be a $400-$500 million investment for the company and will use heat, a byproduct of its operations, to help the region produce food all year.
- 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 central headquarters for its North American operations.
The miner distilled the plans on Thursday in a joint press release with the governor of North Dakota’s office and notable investors such as Kevin O’Leary.
Company officials stated 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 allow heat from Bitzero operations to be used for food production throughout the year.
“It helps Main Street, it helps every citizen, it takes our state off the dependence of being, as we have been for over 100 years, dependent on revenues at the state level,” said North Dakota’s Governor Doug Burgum.
While the location of Bitzero’s headquarters has yet to be announced, the CEO stated it will likely be located in Bismarck or Fargo and will employ 15-20 people for operations. The bitcoin mining company has plans to build out 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 hub for graphene batteries technology which is expected to represent a $200-$500 million investment over the next two to three years.
Currently, Bitzero has raised $100 million through investment capital with plans to launch a Canadian initial public offering (IPO) within the next 60 days.
“Solidifying a North American headquarters prior to the IPO was a crucial strategic piece for Bitzero, and we plan to begin consolidating operations to North Dakota as we scale,” said O’Leary. “This announcement comes in advance of a Montana project announcement scheduled for tomorrow.”