A new bitcoin mining company has attracted a private investment of $18 million.
As it became known, in Virginia’s Tazewell County, a bitcoin mining data center was launched on the site of the Bluestone Business and Technology Park on October 25 in a festive ceremony.
The mining equipment operator, Blackstone Data Services, LLC, provides hosting, server operations, and equipment maintenance services with its facilities. It was able to raise $18 million in private investment for its business operations.
As stated Republican Congressman Morgan Griffith of Virginia:
“Data centers and cryptocurrencies offer new economic opportunities for Southwest Virginia, and Blackstone Data Services, LLC’s solution will help unlock that potential while creating new jobs and investment flows in our region.”
The company initially announced five new jobs with the prospect of more. Blackstone Data Services, LLC said it sees its mission as “enabling our customers to invest in new technology without the hassle of getting their equipment up and running.”
State Senate Representative Travis Nacoort, a Republican senator, said:
“I’m delighted that this type of business is coming to our region because it helps diversify our economy. This is the type of entrepreneurial activity that strengthens us economically.”
The county’s municipal representative also noted that “the arrival of the mining business means we are bringing much needed high technologyas well as significant capital investment.”