Power Block Coin, LLC To Build $251M Cryptocurrency Mining In Montana
Power Block Coin Builds $251M Crypto Mining Farm
In a unanimous vote of approval, commissioners at Buttee-Silver Bow Council are set to allow the commencement of construction of a $251 million crypto farm. That's is even after residents of the former copper mining town expressed fears on the potential of the project by Power Block Coin. However, the attraction of cryptos does continue to spread to other sectors and is influencing how they run. As such, the Utah-based firm projects a 3-year layout for before they can fully finish with all the requirements from the relevant authority.
In return for accommodating the firm, Power Block Coin will invest a further 410 million dollars to help improve the energy infrastructure to cater for the cryptocurrency mining. Currently, their mining operations consume 135-megawatts of power, and this can put a considerable strain on the town's energy production. Such power levels are enough to light up over 10,000 homes, but Power Block Coin will reinvest their profits and help bring down the cost of power to benefit the mining site’s locals.
The subsidiary of Blue Castle Holdings prides itself as an energy company that aims to provide mining power options for the crypto enthusiast. Their Power Blocks will consist of different energy servers on offer for individuals, small or medium organizations working on investing in cryptocurrency. At a price of $0.05 per KwH, their contracts will work on five to ten years with the value easily affordable to a large number of audience.
Power Block Coin Crypto Mining In Montana Conclusion
With the new venture, Power Block Coin will have one of the most prominent mining operations in Montana over the past few years. Their Spokane Project is already up and running since 2016 in Missoula, and houses a 20-megawatt production facility to cater for the plant's massive energy consumption traits.
While it may come as a surprise why Power Block Coin is picking Montana as its central hub, there is an underlying advantage that comes with it. The area is cold which makes it ideal for the crypto mining with the machines always overheating. Consequently, Power Block Coin will save money that would go to the cooling costs.