Key Takeaways
- Bitzero’s North American Operations will be headquartered in North Dakota.
- Bitzero is a bitcoin mining company that is completely green. The company plans to build 200 megawatts of data centres in the state within the next two to three years.
- North Dakota’s ability to retain greenhouse gases deep underground, as well as its supportive clean carbon policies, are driving a company’s decision to locate data centres in the state.
- The company says it will invest $400-500 million in the data centres and will work with MHA Nation’s greenhouse venture to use the data centres’ heat to produce food all year.
A cryptocurrency mining company that intends to use renewable energy has announced plans to establish its headquarters and hub for all North American operations in North Dakota. Bitzero officially confirmed that it plans to build 200 megawatts of data centers in the state over the next three years and is engaged in a partnership to become an assembly and distribution point for graphene battery technology.
Governor Doug Burgum and businessman Kevin O’Leary, best known for his appearance on “Shark Tank,” were joined by Bitzeo CEO Akbar Shamji and Three Affiliated Tribes President Mark Fox at the Fargo-Moorhead Convention Visitors Bureau for the formal announcement.
Officials say the company will invest $400-500 million in the data centres and will collaborate with MHA Nation’s greenhouse project to use heat from the data centres to grow food all year. Bitzero chose North Dakota because of its alignment on the state’s goal of becoming carbon neutral by 2030, its robust energy industry, favourable tax and regulatory atmosphere, and availability of high engineering and software expertise for the commercial viability of new intellectual property in the data centre space.
A 50-megawatt Bitzero data centre is planned to be built close to the tribes’ massive greenhouse. The greenhouse, which is big enough to accommodate seven football fields, will be heated using heat collected from the data centre’s servers. Natural gas produced on the reservation will also be used to capture heat.
Bitzero’s arrival in North Dakota, according to Gov. Doug Burgum, is a big win for the state’s economy.
“It helps Main Street, it helps every citizen, and it frees our state from its reliance on state revenues, which we have had for over a century,” Burgum said.
North Dakota will be home to Bitzero’s North American headquarters, which will employ 15 to 20 people.
“You’ll definitely see a lot of us,” said Bitzero’s founder and CEO, Akbar Shamji. “Right now, we’re torn between Fargo and Bismarck.” We’re currently working on it.”
Bitzero has raised nearly $100 million in investment capital to date, and the company expects to have an initial public offering on the Canadian stock exchange within the next 60 days, followed by a Nasdaq listing once regulatory approval is received, according to company officials.
While quoting, O’Leary emphasizes geological capacity and abundant energy resources. He remarked, “This is an incredible place.” “This is a state that will compete with the likes of Florida and Texas,” says the governor.
According to O’Leary, the digital economy is becoming more important. He declared, “Data is the new oil.” Data processors offer critical infrastructure to manage the massive data requirements of the growing fleet of devices, including autonomous vehicles and drones.
Bitzero creates and operates data centres powered by renewable energy. To recover heat displaced by mining operations, the company uses data processing and crypto mining. Bitzero is in talks for a number of other projects, including wind and solar, that are expected to arrive at full potential in the coming months.
