Bladetech is a popular IT hardware supplier in the United Kingdom. This company has revealed that it has plans to build a huge Bitcoin farm in the southeast of the UK. It has given the name Third Bladetech Bitcoin Mining Company Limited (TBBMC) to this new farm.
The founder of Bladetech John Kingdon is looking to operate the farm with funds from the investors. This new firm is aiming to raise 10 million pounds from investors to build and to run the farm. They have big plans to start up this project within 2 to 3 years. After setting up the plant, the developers have plans to sell the Bitcoins and also the mining equipment in order to make the investment returns.
John said that the selling of the mining equipment could itself usher in the profits. There are no details about whether he has taken into consideration some of the factors like decreasing prices of hardware, increase the mining costs as well as electricity and power consumption when planning the profits out of the business.
The company is looking at investment returns based on its prediction of the Bitcoin market in the next 2 years. It has taken into consideration a yearly increase in the price of Bitcoin of over 50% and per annum decreases in the price by 40%.