Spanish blockchain company CryptosolarTech has launched an initial coin offering ( ICO ) to raise $52.7m ( €42.8m ) in funding for a virtual currency mining centre in Malaga , southern Spain . The new facility will be powered by 10 solar plants with a total capacity of 10 MW. CryptosolarTech has signed a 15-year power purchase agreement with local provider Respira Energía . The ICO is set to end on July 14 , after which the company will begin seeking regulatory and environmental approvals, as well as acquiring buildings and land.
Spanish blockchain company CryptosolarTech has launched an initial coin offering (ICO) to raise €42.8m ($52.7m) in funding for a virtual currency mining centre in Malaga, southern Spain. The new facility will be powered by 10 solar plants with a total capacity of 45 MW. CryptosolarTech has signed a 15-year power purchase agreement with local provider Respira Energía. The ICO is set to end on 14 July, after which the company will begin seeking regulatory and environmental approvals, as well as acquiring buildings and land.