Company:Blockware Mining
| Industry | Cryptocurrency mining |
|---|---|
Area served | Kentucky |
| Products | Bitcoin mining infrastructure |
| Services | Bitcoin mining |
Blockware Mining was an American cryptocurrency mining company.[1] Blockware Mining operated bitcoin mining facilities and infrastructure projects, particularly in western Kentucky.[2] Riot Platforms acquired Blockware Mining for approximately $140 million on July 23, 2024.[3]
Background
Blockware Mining emerged as part of a broader expansion of cryptocurrency mining in Kentucky in the early 2020s, supported by state-level tax incentives which were aimed at attracting energy-intensive industries.[4][5][6] The company was approved for state tax incentives tied to a proposed facility in Paducah, Kentucky. Newspapers in Illinois, Indiana, and Kentucky reported on the company's role in the growth of cryptocurrency mining operations in the Ohio Valley and surrounding areas.[7][8][9][10]
Industry publications reported that the company raised approximately $25 million in 2021 to expand its bitcoin mining operations and increase its computational capacity.[11][12] The company also developed large-scale bitcoin mining centers in Kentucky, including facilities with capacity in the tens of megawatts.[13]
Public radio reporting placed Blockware among several firms contributing to the rise of cryptocurrency mining in the Ohio Valley, a development linked to regional economic transition and access to low-cost electricity.[14]
References
- ↑ "Blockware Mining Announces Paducah Location | Greater Paducah Economic Development". https://epaducah.com/news/article/blockware-mining-announces-paducah-location.
- ↑ "Continued coverage of cryptocurrency mining in western Kentucky". The Paducah Sun (Paducah, Kentucky): p. A3. 2025-03-06. https://www.newspapers.com/image/1177993043/.
- ↑ "Riot Platforms, Inc. acquired Blockware Mining, LLC for approximately $140 million.". 2024-07-22. https://www.marketscreener.com/quote/stock/RIOT-PLATFORMS-INC-38481086/news/Riot-Platforms-Inc-acquired-Blockware-Mining-LLC-for-approximately-140-million-47450740/.
- ↑ Sonka, Joe (2021-06-03). "Who's getting new Kentucky tax breaks? Here's 3 of the big benefiters". Louisville Courier Journal / Lexington Herald-Leader: p. A6. https://www.newspapers.com/image/716861614/.
- ↑ "Follow-up coverage on crypto mining expansion". Metropolis Planet (Metropolis, Illinois): p. A3. 2021-07-26. https://www.newspapers.com/image/1185510771/.
- ↑ "Regional developments in cryptocurrency infrastructure". Metropolis Planet (Metropolis, Illinois): p. A3. 2021-07-12. https://www.newspapers.com/image/1185510238/.
- ↑ "Local coverage of cryptocurrency mining developments". Metropolis Planet (Metropolis, Illinois): p. A5. 2021-06-14. https://www.newspapers.com/image/1185511225/.
- ↑ "Ongoing reporting on regional crypto mining activity". Metropolis Planet (Metropolis, Illinois): p. A5. 2021-07-05. https://www.newspapers.com/image/1185510602/.
- ↑ "Cryptocurrency mining and regional economic impact". The Times (Hammond, Indiana): p. A11. 2021-11-14. https://www.newspapers.com/image/780740455/.
- ↑ "Local reporting on Blockware Mining operations". The Paducah Sun (Paducah, Kentucky): p. A2. 2022-08-02. https://www.newspapers.com/image/864626233/.
- ↑ Ligon, Cheyenne (2021-06-30). "Blockware Raises $25M to Expand Bitcoin Mining Operations in Kentucky". CoinDesk. https://www.coindesk.com/business/2021/06/30/blockware-raises-25m-to-expand-bitcoin-mining-operations-in-kentucky.
- ↑ Messamore, Wes (2021-07-01). "Blockware Mining raises $25 million to triple hash rate from Kentucky facility". Cointelegraph. https://cointelegraph.com/news/blockware-mining-raises-25-million-to-triple-hash-rate-from-kentucky-facility.
- ↑ Ashraf, Aoyon (2022-03-29). "Blockware Solutions Builds 20MW Bitcoin Mining Data Center in Kentucky". CoinDesk. https://www.coindesk.com/tech/2022/03/29/blockware-solutions-builds-20mw-bitcoin-mining-data-center-in-kentucky.
- ↑ Niemeyer, Liam (2022-04-25). "A new kind of 'mining' has arrived in the Ohio Valley. What will crypto mean for the region?". WKMS. https://www.wkms.org/business-economy/2022-04-25/a-new-kind-of-mining-has-arrived-in-the-ohio-valley-what-will-crypto-mean-for-the-region.
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