Kevin O’Leary Backed Bitzero Announces North Dakota as HQ

Kevin O’Leary Backed Bitzero Announces North Dakota as HQ

The Governor of North Dakota, Doug Burgum, said that North Dakota will be the new HQ and hub for all of Bitzero’s North American activities, which is supported by Kevin O’Leary.

As per the press release, North Dakota came forth as the best choice for Bitzero due to various reasons. This includes North Dakota’s goal of being a carbon neutral region by 2030, its strong energy industry, favorable tax and regulatory setting.

North Dakota also offers access to top-notch engineering and software talent for materializing new intellectual property in the data center domain.

At a recent press conference, Burgum said, “Bitzero’s decision to locate its North American headquarters in North Dakota is yet another example of how our state is emerging as the location of choice for clean energy data centers supported by reliable, affordable electricity produced with environmental stewardship.”

He further added that the growing crypto industry will persistently diversify the economy and elevate North Dakota’s status as the business hub for tech entrepreneurs and innovators.

Bitzero CEO Akbar Shamji said that the bitcoin mining firm is planning to build 200MW of data centers in North Dakota in the coming two to three years, for providing state data requirements.

The data centers will require an investment of $400 million to $500 million. 

Moreover, the firm is engaged in a partnership for graphene battery technology that brings an assembly and distribution center to North Dakota, requiring another $200 million to $500 million of capital in the next two to three years, he informed.

The soon-to-be sited headquarters will have 15 to 20 employees to drive operations in the state.

Company officials have revealed that Bitzero has, till date, collected around $100 million in investment capital. The firm intends to have an initial public offering on the Canadian stock exchange within the next 60 days. Thereafter once the regulatory approval is passed, it will be listed on the Nasdaq.

Bitzero Strategic Investor and star of ‘Shark Tank’ Kevin O’Leary, disclosed, “This announcement comes in advance of a Montana project announcement scheduled for tomorrow.”

Additionally, Bitzero will sign an alliance with MHA Nation for purchasing power from Bitzero’s much-awaited data hub for the MHA Nation’s greenhouse project.

Bitzero is in several discussions for other prospects that are expected to pan out in the next few months, including wind and solar projects.

Also read: Kenya’s KenGen to Offer Clean Energy to Bitcoin Miners

Previous Post
Japan Passes Stablecoins Bill That Safeguards Investors
Next Post
What Does the Bitcoin Mining Moratorium Mean for New York?