Bitcoin Crypto News

Mr. Wonderful-Backed Green Bitcoin Mining Venture To Build $500M HQ In N. Dakota

Who’s putting his money where his mouth is? Mr. Wonderful AKA Kevin O’Leary is. As one of the main proponents of the industry’s need for green bitcoin mining, Mr. Wonderful invested in Bitzero. And now they’re announcing that the company will build its North American headquarters in North Dakota. Why is this news? Because of the things they’ll do with the heat that the data center will produce. Heat is an unintended byproduct of bitcoin mining, and Bitzero Blockchain Inc. plans to use it to fuel the region’s food production throughout the year. The company will partner with MHA Nation’s greenhouse project to accomplish it. And they’ll use North Dakota’s abundant green energy resources to mine the bitcoin without even touching carbon. Mr. Wonderful is presenting us with a win-win situation right here.  In a governmental press release, Hidatsa and Arikara (MHA) Nation Chairman Mark Fox said, “Bitzero is working with us to use our Western Area Power Administration hydroelectric power to reflect the company’s zero carbon mandate. The additional heat produced from the data center facility will be used for our MHA Nation’s Greenhouse Project currently under construction.” Excited to announce that North Dakota emerged as the logical choice for @bitzerodotcom's headquarters due to alignment on the state’s goal of being carbon neutral by 2030, a robust energy industry, favorable tax and regulatory environment and access to top-tier talent. 1/ pic.twitter.com/GylnM1aNaO — Gov. Doug Burgum (@DougBurgum) June 1, 2022 Out of the $500M for the North American HQ, the company already raised $100M. At one point over the next two months, Bitzero will host an IPO in Canada to get the rest. The green bitcoin mining company is originally from Namsskogan, Norway, where their data centers already work with hydroelectric power. That means, their operations run on 100% renewable energy. Using the heat for food production is a benefit on top of that.  What Does Mr. Wonderful Have To Say About The Situation? The plan was to announce the North American headquarters before the IPO, and Bitzero delivered. In what seems like a private event with entrepreneurs, politicians, and media, the North Dakota part of the venture came to life. Local radio station KVRR provides video and quotes Mr. Wonderful saying: “Data is the new oil. This state has plenty of energy. Now, it has an opportunity to convert some of it and diversify into what every single sovereign wants. The value of having your data on your own soil. In a stable place because it’s the records of people, it’s the banking system. It’s all of the information that every single sector of the economy needs.” For his part, Governor Doug Burgum said in a tweet, “excited to announce that North Dakota emerged as the logical choice for Bitzero’s headquarters due to alignment on the state’s goal of being carbon neutral by 2030, a robust energy industry, favorable tax and regulatory environment and access to top-tier talent.” BTC price chart for 06/03/2022 on Cexio | Source: BTC/USD on TradingView.com Other Projects in North Dakota In the middle of April, just a couple of months ago, the government of North Dakota announced a visit by Mr. Wonderful and Bitzero CEO Akbar Shamji. The purpose of the visit was “to evaluate potential Bitcoin mining investment opportunities” in the state. Apparently, things went well.  There's so much opportunity in Bitcoin mining using 100% sustainable green energy like wind, solar, nuclear and hydro. — Kevin O'Leary aka Mr. Wonderful (@kevinolearytv) May 10, 2022 At the time, they announced two more things. First, “the bitcoin mining company has plans to build out 200 megawatts (MW) of power in data centers over the next two years.” So, this is just starting. Second, “in addition to the data centers, the company also plans to develop an assembly and distribution hub for graphene batteries technology.” So, there’s more coming.  “There’s so much opportunity in Bitcoin mining using 100% sustainable green energy like wind, solar, nuclear and hydro,” Mr. Wonderful said recently in a tweet. Plus, in a Cointelegraph interview, Mr. Wonderful said, “Private capital must be compliant with environmental, social and governance factors. ESG was once a marketing term, but now it’s a real thing.”  Even though not everyone in the bitcoin space agrees with him, it’s commendable that Mr. Wonderful is not just talking. He’s betting on a green future for bitcoin, and apparently, he’s betting big. Featured Image by Tim Mossholder on Unsplash | Charts by TradingView

Bitcoin Crypto News

What Is El Zonte Capital? Could Keiser, Herbert, And Klippsten Shake The Market?

A new investment fund, El Zonte Capital hopes to bring the Bitcoin Beach experience to the whole world. Controversial journalists and podcasters Max Keiser and Stacy Herbert joined forces with Swan Bitcoin’s Cory Klippsten to put their money where their mouth is. El Zonte Capital has $5M in committed funding, and that’s just the beginning.  Related Reading | Cool Valley Mayor Will Airdrop $1000 Worth Of BTC To Each Household The place where El Salvador’s Bitcoin Law started, El Zonte AKA Bitcoin Beach is the inspiration behind the venture. “El Zonte is hyperbitcoinization. Hyperbitcoinization is economic freedom, and hyperbitcoinization is our main investment thesis,” Keiser said to Bitcoin Magazine.  Max Keiser & Stacy Herbert Launch El Zonte Capital https://t.co/tZvf7u7Pte — El Zonte Capital 🏄🌋🇸🇻 (@ElZonteCapital) February 15, 2022 For the last two months, Keiser and Herbert experienced the bitcoin life first-hand by living in El Salvador. Speaking about their conversations with politician and merchants around the country,  Herbert said, “We’ve been asking hard, deep questions to all of them and discussing their plans extensively. This is the place to be.” Keiser added, “After experiencing what it actually looks like, we see this as the inevitable near future for everyone else. We are riding this wave as any surfer would.” What Will El Zonte Capital Do? To get into the meat of things, we give the mic to Bitcoiner Ventures’ Cory Klippsten. He said, “We hope to facilitate a two-way exchange of ideas and resources, with companies around the world bringing their products and services to El Salvador, and companies based in El Salvador exporting their innovation to the rest of the world.” The trio is no stranger to investing, nor to bitcoin-specific investment. As a partner in Bitcoiner Ventures, Klippsten has a stake in Impervious, social network Zion, the Breeze wallet; and giants like Galoy, Unchained Capital, and Bitrefill. For their part, Keiser and Herbert have investments in Kraken, Swan Bitcoin, and Bitfinex. BTC price chart for 03/11/2022 on Bitstamp | Source: BTC/USD on TradingView.com Should You Bet On El Salvador? El Zonte Capital’s founding members couldn’t be more bullish on bitcoin and El Salvador. Keiser told Bitcoin Magazine, “The future is all around us. I haven’t been this excited about Bitcoin since I first heard about Bitcoin.” Herbert added, “El Salvador is drawing in the smartest, most creative people. Jack Dorsey recently said that ‘a big part of the future is happening in El Salvador,’ and he’s not wrong. The future is now and it is right here” Bitcoin conversation was had 🇸🇻💙🚀 pic.twitter.com/kOdxvBC9yX — Stacy Herbert 🇸🇻 (@stacyherbert) February 11, 2022 Their answer to the title’s question is a resounding yes. “We will look at education and education technology to onboard as many people as possible. El Salvador will be bigger than Singapore.” Keiser’s prediction here is ambitious, to say the least. But bitcoin is legal tender in El Salvador and not Singapore. And bitcoin companies know this.  Can El Zonte Capital Shake The Market? What does “hyperbitcoinization is our main investment thesis” mean? It means that El Zonte Capital is betting on the whole world adopting bitcoin. Will that happen overnight? Probably not. So, the investment fund is playing the long game. Also, they’re funding companies that will probably take years to take off.  This is the move to watch. Our first true #bitcoin Citadel now has a warchest. Prepare yourselves ✊ https://t.co/LhpaumPmZm — Ray Youssef (@raypaxful) March 11, 2022 So, no, El Zonte Capital will not immediately shake the market. However, if you lower your time preference, you’ll be able to see the importance of this investment fund. Their capital allocation aims to make El Salvador’s experiment successful. Plus, they’re not investing in the present of the bitcoin network. El Zonte Capital is looking at the future. Planting the seeds of what is to come. Related Reading | The 411 On “Adopting Bitcoin,” A Lightning Network Conference in El Salvador So, yes, El Zonte Capital and the companies they fund will hopefully affect the market at a future date. If everything goes according to plan, hyperbitcoinization will take over the world. That’s the day El Zonte Capital is betting on. Featured Image by 12019 on Pixabay | Charts by TradingView