US State of Montana invests in a Bitcoin mining

posted 14 days ago
The rural State of Montana Governor Steve Bullock announced a grant of $416,000 to assist Project Spokane to expand. The governor says:

“The funds will be used for purchase of equipment, machinery, furniture and software and for wage reimbursement. Project Spokane, LLC is a data center that provides blockchain security services for the bitcoin network.”

The investment accounts for nearly half of a $1.1 million fund that was made available to help businesses create jobs, train employees and expand further.

James Grunke, the president and CEO of the Missoula Economic Partnership, told a local paper that Project Spokane is on their way to “becoming North America’s largest data center. They are going to have 55,000 servers, and right now they only have 12,000. It’s pretty exciting,” he said.

This is the first known instance of a direct government investment in a bitcoin mining operation.
Tags: blockchain, news, bitcoin