JAMESTOWN, N.D. (NewsDakota.com) – A new crypto mining business took its first construction step Tuesday afternoon north of Jamestown.
Applied Blockchain, Inc. hosted a groundbreaking ceremony at its first hosting facility site. Company representatives, local and state government leaders, members of the Jamestown/Stutsman Development Corporation, and strategic partners were on hand for the event.
CEO and Chairman Wes Cummins stated they chose North Dakota and specifically Jamestown to build because it met their building criteria.
Applied Blockchain delivers high-performance crypto mining and infrastructure solutions to customers around the globe. Based in Texas, this is their first large-scale hosting facility in the nation.
The company also engages in direct mining of Ethereum, Bitcoin and other crypto assets. The Company is backed by some of the largest family offices and institutional investors in the US.
Partnering with Ottertail Power Company to provide the needed electricity to operate a facility, Cummins says that Jamestown “ticked all the boxes.”
Eight buildings will house the needed infrastructure to conduct the crypto mining, using upwards of 50 megawatts of capacity to be operational by the end of the year.
Cummins says they hope to ramp up to 200 megawatts in 2022.
Applied Blockchain will employ around 30 people on site to monitor equipment around the clock at the hosting facility about 7 miles north of Jamestown on Highway 20.
