Crypto Watt to Mine in Montana with Two New Data Centers
by Josh Anderson
BUTTE & ANACONDA, MT — A pair of neighboring cities in Montana have learned that they will be host to bitcoin mining facilities owned by Crypto Wall, LLC. The firm has acquired 53 acres and they plan to invest at least $75 Million USD, perhaps up to $100 Million USD, into the project, will result in around 50 full-time jobs.
Burrell has said that the facility may be used to mine other crypto-currencies as well. “We’re confident we have a sustainable business model,” said the firm in a statement. “We’re in this for the long term.” Global Blockchain Tech, a Canadian company, has already expressed interest in leasing some of the space.
Crypto Watt is a part of holding company The Burrell Group, whose portfolios largely are devoted to osteopathic colleges and bitcoin mining. They will take over the Butte facility currently owned by MSE Technologies, an ailing firm who has had to sell off its assets and lay off staff in order to deal with a handful of financial problems, as well as a parcel of land in the Anaconda Mill Creek Tax Increment Finance District (known as TIFID).
While the flurry of Bitcoin activity in nearby Oregon and Washington State have surprised no one, the fact that the Mountain West is becoming a bit of a mecca for crypto-currency mining has widened some eyes. However, the cheap cost of hydroelectric power, a cool climate, and a plethora of large, often vacant former factories that feature their own power grids and sub-stations have provided a very attractive environment to energy-hungry operators.
Interestingly, CapRE reported on another proposal by Crypto Watt earlier this month in Anaconda, but at that time, the company went by the name Bit Power. At that time, they also had signed lease to operate in the W.K. Dwyer Primary School for $205,000 last month. The Burrell Group is also building a data center in Idaho. In 2016, Project Spokane, LLC built another mining site near Missoula, MT.
Local reports are saying that Crypto Watt plans to re-purpose their acquisition into a bitcoin mining center by the beginning of March. The Montana Standard first reported that the transaction was completed somewhat under wraps earlier this month. “We’ll be training employees to maintain the data center that we would be building in another location. The underlying technology which this is a product of is exciting from an investment standpoint,” Vice President of Crypto Watt Scott Mosebacht told The Montana Standard. “This is obviously going to be revolutionary.”