“This is what we call our colo-light strategy, wherein Blockmetrix partners with an industry-leading colocation developer and operator by contributing equity and functioning as an anchor tenant for the new venture,” Bannister said, adding that the JV partner will provide all of the developmental and operational expertise. “This allows Blockmetrix to significantly control our energy cost and secure locations for our rigs, while having a retained equity interest in the facility with no operational requirement.”

Source link