Global company makes $100 million investment in Ellendale
BISMARCK, N.D. (KFYR) - Ellendale, North Dakota just got a huge investment from a global company.
Earlier this month, Applied Blockchain broke ground on a nearly $100 million computing center in the thousand-person town south of Jamestown. The site will have 14 buildings and draw 180 megawatts, which is comparable to powering 180 skyscrapers. The question is, why Ellendale?
“A big part of the model for our business is to find what I would term stranded power. So, it’s low-cost power that’s generated, often in more remote areas, usually energy renewable energy, in this case, wind power. And there’s not enough transmission to transmit all of the power out if there’s not a local use case for it. And we’re able to take our use case right to the source of power,” said Wes Cummins, co-founder and CEO of Applied Blockchain.
In the facility’s first five years, Wes Cummins anticipates Applied Blockchain will spend hundreds of millions of dollars in operational costs. The site is expected to begin energizing in the first half of 2023.
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