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Why is Bitzero looking to set up its headquarters in North Dakota?

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Bitcoin Miner Bitzero with the backing of Kevin O’Leary has planned to set up its new headquarter while also planning to invest a significant amount to set up data centers

Famous bitcoin mining startup Bitzero has decided to locate its headquarters in North Dakota that will be acting as its hub for North American operations. The bitcoin mining firm is popular because of having Shark Tank investor and entrepreneur Kevin O’Leary as one of its backers. 

CEO of bitcoin mining firm, Akbar Shamji said that Bitzero has plans to build a 200 megawatts capacity data center in the region in about next two to three years. This project is estimated to require an investment of about $400 to $500 million. 

Apart from this, Bitzero is also a part of a graphene battery technology focused joining venture that plans to make an investment of about $200 million to $500 million in order to bring and assembly line and distribution centre to North Dakota in the similar time frame in which Bitzero will set up its data centre. 

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The company in its official statement said that North Dakota has emerged as one of the logical choices for Bitzero because of its alignment on the goals of the state to be carbon neutral by the year 2030. Robust energy industry, regulatory environment, favorable taxes and access to top tier engineering services along with software talent that could help commercialization of new IPs in the data centre space. 

Bitzero describes itself as a bitcoin miner that leverages renewable energy within a Zero Carbon Displacement ecosystem driven by ESG that could harmonize the relationships between data processing, commerce, communities, crypto mining and the environment. 

O’Leary along with being a television personality and a prominent advocate ofgree mining activities is a strategic investor in crypto mining startup Bitzero. Along with this, he is also an investor in Phoenix Group, a bitcoin mining rig supplier and VC firm based in Dubai. In an announcement O’Leary has teased about another announcement about a Montana based project that is still to be announced this week. 

Bitzero has raised about $100 million worth of funding in investment capital to date and it has plans to go public within the next 60 days while getting listed on the Canadian stock exchange. Further the company has plans to list on the Nasdaq subsequently. 

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