Power Block Coin, LLC to Build $251 Million Mining Farm

Utah-based company proposed to invest money to build a cryptocurrency mining farm in Montana  
23 February 2018   1514

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).

Aaron Tilton

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.

Bitmain IPO Application Deadline to Expire

According to the latest statement, team doesn't lose spirit and appointed new CEO
26 March 2019   84

The application of the Chinese mining company Bitmain to conduct an initial public offering (IPO) on the Hong Kong Stock Exchange (HKEx) expired yesterday, March 25. This is reported by the Cointelegraph.

The company filed an application six months ago, for which it provided financial statements to the HKEx committee. However, during this period, the hearing on the application did not take place.

To re-register an application to HKEx, the company will need to disclose financial statements for the third quarter of 2018.

Today, 26.03.19, Bitmain published a blog post, in which it reported in new CEO Haichao Wang appointment and share some plans.

Bitmain’s listing application to HKex in September 2018 has reached its 6-month expiration date. We do recognize that despite the huge potential of the cryptocurrency and blockchain industry, it remains a relatively young industry which is proving its value. We hope regulatory authorities, media, and the general public can be more inclusive to this young industry. We will restart the listing application work at an appropriate time in the future.

Bitmain Team

In November 2018, an application for an IPO from a mining company Canaan Creative was canceled.