(Fargo, ND) -- Governor Doug Burgum, along with Bitzero Strategic Investor Kevin O’Leary, Bitzero CEO Akbar Shamji, and Mandan, Hidatsa and MHA Nation Chairman Mark Fox Wednesday announced North Dakota as Bitzero’s headquarters and hub for all North American operations.
North Dakota emerged as the logical choice for Bitzero due to alignment on the state’s goal of being carbon neutral by 2030, its robust energy industry, favorable tax and regulatory environment, and access to top-tier engineering and software talent for the commercialization of new intellectual property in the data center space.
“Bitzero’s decision to locate its North American headquarters in North Dakota is yet another example of how our state is emerging as the location of choice for clean energy data centers supported by reliable, affordable electricity produced with environmental stewardship,” Burgum said at a press conference in Fargo. “This growing industry will continue to diversify our economy and elevate North Dakota’s status as the place to do business for tech entrepreneurs and innovators.”
Shamji said Bitzero is planning to build 200 megawatts of data centers in North Dakota in the next two to three years, with a specific purpose of servicing state data requirements. The data centers represent an investment of $400 million to $500 million. In addition, the company is involved in a joint venture for graphene battery technology that plans to bring an assembly and distribution hub to North Dakota, representing a $200 million to $500 million investment in the next two to three years, he said. The headquarters, which has yet to be sited, will employ 15 to 20 people to drive operations in the state, he said.
To date, Bitzero has raised close to $100 million in investment capital and plans to have an initial public offering on the Canadian stock exchange within the next 60 days and subsequently be listed on the Nasdaq once regulatory approval is passed, company officials said.
“Solidifying a North American headquarters prior to the IPO was a crucial strategic piece for Bitzero, and we plan to begin consolidating operations to North Dakota as we scale,” said O’Leary. “This announcement comes in advance of a Montana project announcement scheduled for tomorrow.”
In addition, Bitzero will partner with MHA Nation for the purchase of power from Bitzero’s proposed data center for the MHA Nation’s greenhouse project.
“Bitzero is working with us to use our Western Area Power Administration hydroelectric power to reflect the company’s zero carbon mandate,” Fox said. “The additional heat produced from the data center facility will be used for our MHA Nation’s Greenhouse Project currently under construction.”
Bitzero is in multiple discussions for other projects that are expected to come to fruition over the next few months, which will include wind and solar projects.