EcoChain, Inc., headquartered in Albany, New York, a wholly owned subsidiary of Mechanical Technology, Incorporated, a publicly traded company (OTC Pink: MKTY) announced yesterday an agreement to acquire land to build a green cryptocurrency mining center.
Today’s announcement of an agreement to acquire land is an important step in the Company’s plan to build an ultra low-cost green data center that will fulfill the Company’s goal of becoming an ultra capital efficient crypto mining operator.
The Company anticipates that the site, which is located in the Southeast United States, represents a critical step in its strategic roadmap to grow its EcoChain business. The Company has set an objective to complete construction of a 25MW mining center that will be operational in the fourth quarter of 2021.
They expect this site will be the template for future greenfield and brownfield site builds, with a keen focus on operating and capital efficiency.
In cooperation with their technical partners at Soluna, MTI continues to build a robust pipeline of green powered ultra low-cost locations. Their pipeline incorporates a blend of greenfield, brownfield and ready to operate projects.
“We are excited to be executing on our plan to build out at least 50MW by years end,” commented Michael Toporek, CEO. Added Toporek: “We very specifically have set a target to have under our control and ramp up operations of 50MW of green powered ultra low-cost data center capacity by the end of the year.” Concluded Toporek: “It was important for us to begin executing on our 2021 objectives early. Our team continues to work to meet or beat its targets.”
About EcoChain, Inc.
EcoChain is engaged in developing and operating ultra low-cost green data centers focused on cryptocurrency mining.