- VC Kevin O’Leary recently discussed his significant investment in Bitzero’s HPC data centers, noting that he wanted to own both the infrastructure and the assets it generates.
- Bitzero is a publicly listed company in Canada with operations across the US, Norway, and Finland.
Kevin O’Leary, an entrepreneur, investor, author, and television personality, made a major move in the cryptocurrency industry this year with his backing of Bitzero Holdings, Inc. Recently, he explained in an online interview why he is betting big on the Canadian Bitcoin mining and AI infrastructure.
O’Leary’s Investment in Bitzero
According to O’Leary, his decision to invest in Bitzero stems from his goal of owning both the infrastructure and the assets.
“If you’re gonna own Bitcoin (BTC), back then, why wouldn’t you own the entity that mines Bitcoin?” asked the Shark Tank persona.
O’Leary noted that Bitzero has changed significantly since his original investment. The Canadian businessman, with an estimated net worth of 400 million USD, notably injected a significant sum into the firm.
It’s not clear how much O’Leary invested in Bitzero, but fintech.ca reported in an article that also featured an interview with Mohammed Bakhashwain, the firm’s president and CEO, that the entrepreneur substantially contributed to its 100 million USD funding. The company’s official website lists O’Leary as its “strategic investor.”
O’Leary explained that since Bitzero is an agnostic infrastructure, users have the freedom to decide how to utilize its power. They can mine Bitcoin or Ethereum with it. Alternatively, they can build a data center or an AI compute using its resources.
Being a power real estate company, the entrepreneur said it does not matter whether Bitcoin or AI is the hype, because no one is going anywhere without power.
“All roads lead to Bitzero.” O’Leary pointed out.
Bitzero’s Expansion
Bitzero focuses on developing disruptive, innovative technologies for blockchain and High-Performance Compute (HPC) data centers. It aims to drive the market toward sustainable data and mining practices centered on low-cost, clean, and renewable power sources.
The company currently maintains four locations for its data centers across three countries, including Namsskogan and Røyrvik in Norway; North Dakota, USA; and Kokemäki, Finland. The 100-hectare center in Kokemäki is undergoing Phase I development, according to a press release issued last Tuesday.
Overall, Bitzero already has 40 MW in compute power, with over 1 GW growth capacity in its existing assets.
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