Bladetec is a well-known British IT hardware company, supplying institutions such as NATO and the UK Ministry of Defense and they just announced their plan to diversify by building a huge Bitcoin mining farm in the South East of United Kingdom.

According to Sunday Telegraph, the company named the project ‘Third Bladetec Bitcoin Mining Company (TBBMC)’ and it aims to raise a roughly £10 million from investors in order to build and operate the farm for 2-3 years. The funding platform they use is Envestry, where the whole idea is also available in detail. Let’s take a look at what they offer:

• The TBBMC will be the first Bitcoin mine in Europe to be funded by investment in a limited company governed and protected by UK law.

• TBBMC will be 100% shareholder owned and offer investors the chance to acquire shares at £1.00 each with a minimum investment of £5,000.

• They will acquire approximately 1000 ASIC (Application Specific Integrated Circuits) machines, all running at 43 Terra-Hashes per second (fastest speed available currently)

• They plan to sell the mined coins and later the equipment as well in order to provide investment returns.

It is well known that BTC mining is only profitable if the required energy consumption is resolved in a reasonable price, thus Bladetec said it had deals closed with wind farms, which could offer the energy way below the market rate. We are looking forward to this project, as it is going to be the first Bitcoin mine in Europe funded by investors in a limited company protected by UK law.