State of Montana Funds Bitcoin Mine to Bolster Local Jobs

This week Montana’s Governor Steve Bullock announced the distribution of $1,124,030 in economic development grants that will be given to local businesses within the region. What’s interesting about the job initiative is the $416,000 of stimulus funding that will go to a bitcoin mining data center in Missoula County, called “Project Spokane.”

Also read: Bitcoin: Hardware or Software? That is the Question

Bitcoin Mining Company From Montana Gets Job Stimulus Funding

Officials in Montana and the state’s Governor, Steve Bullock, plan to bolster local businesses with job stimulus funding. According to the governor $1.1 million will be distributed to innovative companies that reside in particular counties across the state. One of them is Project Spokane LLC, a company that says it provides blockchain security validation services for the Bitcoin network; otherwise known as mining. Project Spokane applied for a $600,000 grant but will receive $416,000 from the Big Sky Economic Development Trust Fund (BSTF).  

“Project Spokane, LLC is a data center that provides blockchain security services for the bitcoin network,” explains Montana’s government website announcement.

‘On Their Way to Becoming North America’s Largest Data Center’

According to commentary from James Grunke, the president and CEO of the Missoula Economic Partnership, in an interview with the local publication the Missoulian it is great news for the county.    

 “They are on their way to becoming North America’s largest data center,” Grunke tells the Missoulian about Project Spokane last March.

They are going to have 55,000 servers, and right now they only have 12,000. It’s pretty exciting.

Project Spokane also says that it will create 65 new jobs for residents and the data center will be located at the old Bonner mill site. Funds will be used to purchase more equipment, and software for the company’s Bitcoin network services. Project Spokane has a few job listings posted on sites like Linkedin and Community Spiceworks, looking for service providers.

First Government Funded Bitcoin Operation Will Join the Growing Landscape of U.S. Mining Facilities  

The Montana data center will join the steadily growing bitcoin mining operations taking place in the U.S. The well-known U.S. bitcoin miner Dave Carlson is in the process of building up his latest mining operation Giga Watt in the states. Meanwhile, the anti-virus tycoon John McAfee has also created a bitcoin mining facility in the U.S. and has partnered with Bitmain. Moreover, the bitcoin infrastructure firm Bitfury also has an operation in the state of Georgia which also aims to bolster the state’s economy and jobs.    

The job stimulus funding provided to Montana businesses is also one of the first grants given to a bitcoin mining operation based in the U.S. Governor Bullock believes the companies chosen for funding will help build a stronger economy in Montana. Furthermore, the site at Bonner Mill has been growing and attracting new businesses according to Michael Boehme, the owner of Bonner Property, which is 170 acres of land.

What do you think about the state of Montana helping fund a bitcoin mine? Let us know in the comments below.

Images via Shutterstock and BSTF.

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