The Virginia Beach US city has given $500,000 grant. This is to help them in the establishment of a new bitcoin mine in the region.
On Tuesday, the Virginia Beach development authority made a revelation that it was to grant the funds to Bcause LLC in the quest to make sure that it aids in the generation of many jobs in Virginia Beach. The mone is currently under construction. However, it could open later this month. According to The Virginian Pilot, it is being funded with nearly $65 million.
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The grant is imperative to the region in a huge way. It demonstrates convergence between the public sector efforts in the boosting of growth. It also enables the creation of cryptocurrency space. Apart from the funds, Bcause will also enjoy the benefit of reduction in the taxes on the expenses and computers which are related to the data center under construction.
More: https://cryptona.co/bitcoin-mine-backed-500k-grant-virginia-beach-government/
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