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 ICO will be the first of its kind and is being run by Cryptosolar, which was founded in 2015 with the aim of creating a new type of cryptocurrency that can compete CryptosolarTech has signed a 15-year power purchase agreement with local provider Respira Energía. It is expected to conclude in April 2019. 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.
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 ICO will be the first of its kind and is being run by Cryptosolar, which was founded in 2015 with the aim of creating a new type of cryptocurrency that can compete 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.