Power Block Coin, LLC wants to invest $251 million into a cryptocurrency mining farm in Montana Connections. The company chose a special tax district west of the city of Butte.
Butte-Silver Bow Council of Commissioners voted unanimously 9-0 to allow Power Block Coin, LLC, a subsidiary of Blue Castle Holdings Inc. to build a campus of high-powered data centres in special tax district Montana Connections.
The company plans to harness 135-megawatts of power on its campus.
The farm will be built in two phases over 24 months. $8 -$10 million will be spent on this new electric infrastructure. Around $60 million will be spent on between 70 to 200 separate mining units, each of which would use large amounts of power transmitted through the new substation. The size of these units will vary from larger warehouse buildings to small shipping containers.
Besides mining cryptocurrencies, the company will also be able to support other businesses that need large amounts of power, such medical research, and artificial intelligence.
Bitcoin is the fastest growing segment of cryptocurrency. If it tanks, the same processors can be used for medical research or AI (artificial intelligence).
President and CEO of Blue Castle Holdings
According to Tilton, the company will hire about 15 employees before the end of the year. That number will jump up to about 50 by the time the project is up and running. Salaries are estimated to range from $37,000 per year to $48,000 per year.