A 53-acre MSE facility that served as a
The property was bought in early January by CryptoWatt, formerly known as BitPower, LLC. It is expecting to employ about 50 people in Butte once it starts running. The facility will also serve as the headquarter for the company.
This together with other facilities bought or leased by the company will serve as a Bitcoin business for the company. CryptoWatt also bought Dwyer Primary School in Anaconda for $205,000 last month and will lease land off the Mill Creek Highway.
The company will inject between $75 million to $100 million for the property in Butte and Anaconda.
CryptoWatt is a subsidiary of the Burrell Group. Burrell is an investor who also runs a mine southeast and a for-private osteopathic college in New Mexico.
The facilities in Butte and Anaconda could also be configuring to mine other cryptocurrencies as well. They could also take other new data center functions according to Burrell.
“We’re confident we have a sustainable business model. We’re in this for the long term”.
Burrell said that the MSE and Mill Creek facilities will employ a total of 100 staff. This includes full time and interns. Rick Tabish from Premier Industries told Anaconda School District’s Building and Grounds Committee in December that the facilities would employ 300 people. Burrell said she was not a company spokesperson or employee or investor.
CryptoWatt was collaborating with Premier so that the two can use power from Mill Creek substation.
Burrell said the CryptoWatt will host other clients who want to mine Bitcoins with their computers. One Canada-based client of CryptoWatt is Blockchain Technologies Corp. The company announced last month that they will set up mining operations in Butte and Anaconda.
Meanwhile, the cool climate in the southwest of Montana makes it appealing for Bitcoin mining. This would help cool the systems, said Burrell.
Image Source: MSE Property