Bitcoin mining startup Bitzero has chosen North Dakota as the headquarters and hub for its North American operations.
- "North Dakota proved to be a logical choice for Bitzero due to its alignment with the state's goal to be carbon neutral by 2030, its robust energy economy, favorable tax and regulatory environment, and access to world-class engineers and software talent for commercialization of new data center intellectual property," the company said in a statement.
- According to CEO Akbar Shamji, Bitzero plans to build 200 megawatts of data centers in the state over the next two to three years at a cost of $400 million to $500 million. The company is also part of a graphene battery technology joint venture that plans to invest $200 million to $500 million over the same period to build an assembly and distribution center in North Dakota.
- Bitzero describes itself as a miner that "leverages renewable energy within an ESG-driven zero carbon displacement ecosystem to harmonize the relationships between data processing, crypto mining, commerce, communities and the environment."
- Kevin O'Leary, television personality and green mining advocate, is a strategic investor in Bitzero, along with Dubai-based Phoenix Group, a bitcoin mining rig provider and venture capital firm. In the statement, O'Leary made another announcement for a project in Montana, which is expected to be announced this week.
- To date, Bitzero has raised about $100 million in investment capital and plans to go public on the Canadian Stock Exchange within the next 60 days and then seek a listing on Nasdaq.
- In its most recent financing, the mining company raised approximately $45.9 million in a private placement at a share price of $0.40 per share.