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Unknown Company buys huge chunk of Land at Nevada for obscure Ethereum Project


Jan 31, 2018 Posted /  49721 Views


Unknown Company buys huge chunk of Land at Nevada for obscure Ethereum Project

Earlier this month, there was a news circulating in media that a Russian businessman had bought two power stations in the region of Perm with the objective of establishing a large mining unit for cryptocurrencies. We witnessed a relaxed brow from the Russian authorities as well who were welcoming the crypto-miners after the crackdown by China. There was sure for someone to fill the void soon with better subsidy plans for power.

So apart from Russia, we saw accumulation of miners in Winnipeg City, Manitoba, which is considered as having the cheapest supply of electricity in the entire North American continent. Nonetheless, there is a new industrial-scale project for cryptocurrency setting up in Nevada. The local media reports that the company is not much known to the public but is said to be focused on blockchain technology and bitcoin. The company has bought a large piece of land at the Tahoe-Reno Industrial Center.

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The park encloses units of several tech companies with renowned names as Tesla, which made headlines in 2014 as it chose the Nevada based Industrial Center as a site for its Gigafactory. Apart from Tesla, Google and Switch also have campuses in the park.

As reported by the media the Blockchain based company has purchased some 74,000 acres of land for $175 million. This encompasses the biggest deal since the park was developed in 1998. In fact, the deal was much more than the Gigafactory and the other corporate campuses.

As disclosed by the Storey County Commissioner and Tahoe-Reno Industrial Center broker Lance Gilman he said, he concluded the escrow last week on the sale of 67,125 total acres of land to Blockchains, LLC. Notably, the company is a business that analyzes and develops applications for blockchain distributed ledger technology, the decentralized platform that makes up the backbone of Bitcoin and many other cryptocurrencies

The broker said that in reality he was forbidden from talking about the terms of the sale. He further adds that it is anticipated that the deal would for the 74,000 acres in land sales was worth about $175 million.

“There’s no question — they’re going to have a major footprint in the Tahoe-Reno Industrial Center,” he remarked.

Interestingly, the information about the company is not readily available and there is neither any information regarding the intentions of the company, as Gilman details about its property, it owns more than 104 square miles at the industrial park. The land sale was first reported by Nevada Newsmakers.

However, as per the company’s website, which presents only some hazy summary about the operations of the company, Blockchains, LLC is a “premier innovator” in the blockchain industry, trained in “financial services, software development of distributed applications (Dapps) for the Ethereum blockchain.”

But Lance Gilman, the real-estate agent who sold the plot to Blockchains, commented that he cannot furnish particulars about the company's plans. Nevertheless, he says that he assumes the company will be building its corporate headquarters and a research lab. He further says that the company might soon release more information about its operations.

However, if we analyze its connection with cutting-edge tech that the park's developers have nurtured, Gilman said he's "proud" to have a cutting-edge blockchain company in the park.


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Tags: Ethereum project

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