State of Montana to Directly Invest in Bitcoin Mining Operation and Blockchain Based Data Center

by Kenneth Schortgen, The Daily Economist:

As we wrote in an article earlier this week, both regulation and how Bitcoin will be accepted within the U.S. appears to be varied between the states. And on June 10 the state of Montana has introduced a new approach which includes actual taxpayer funding to facilitate investment in a data center which will act as both a Bitcoin mining operation, and as a Blockchain test facility.

In the first-ever reported case of a US State funding what looks to be a Bitcoin mining operation, Montana’s Governor recently announced that $416,000 was awarded to a “data center that provides blockchain security services for the bitcoin network.”

Governor Steve Bullock recently announced $1,124,030 in economic development grants to assist Main Street businesses across Montana with creating 116 jobs, providing workforce training and developing plans for growth and expansion.

The funds are being awarded through the Big Sky Economic Development Trust Fund (BSTF) and the Primary Sector Workforce Training Grant (WTG) programs at the Department of Commerce, Office of Tourism and Business Development.

“Missoula County received $416,000 of BSTF Job Creation funds to assist Project Spokane, LLC to expand, which will allow the company to create 65 new jobs in Bonner. The BSTF funds will be used for purchase of equipment, machinery, furniture and software and for wage reimbursement.” – Brave New Coin

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