Bladetec to build largest legally protected Bitcoin mine

On March 20, it was reported that Bladetec, a British IT equipment provider, recently received an investment of 10 million pounds. According to official introduction, the money will be used to build and operate a Bitcoin mine. While mining on its own, the developer said it will also sell mining equipment and mined Bitcoins to reward investors.

Bladetec founder John Kingdon claims that investors “don’t have to risk losing any money.” According to his calculations, the sale of mining equipment alone would be profitable; it is unclear whether he took into account factors such as falling hardware prices and increasing mining costs, which require more electricity and computing power every year.

Bladetec was founded in 2002 and has provided IT support, supply and consulting services to organizations such as the UK Ministry of Defense, NATO and the National Grid. Financing platform Envestry said TBBMC is a Bitcoin mining farm funded by investors in a limited company protected by British law, which will be the first in Europe.