389 Tyger River Industrial Park North, Moore, SC , United States – 09-28-2022 (PR Distribution™) –
South Carolina Officials Welcome Digital Asset Industry to South Carolina
SPARTANBURG, SC – Congressman William Timmons and State Treasurer Curtis Loftis joined local leaders at a Ribbon Cutting for BV Power Alpha, LLC’s new, multi-million dollar data center in southern Spartanburg County. BV’s plans for the new facility include creating dozens of high paying jobs over time in rural Spartanburg and millions in economic benefit for the community.
“South Carolina continues to make significant progress in supporting the growth of digital assets as an emerging industry. Having BV Power invest in our state further demonstrates that we are well-positioned to reap benefits not only for our people, but also for the larger state economy,” said State Treasurer Curtis Loftis.
Bitcoin is a digital currency, more generically referred to as cryptocurrency, based on Blockchain technology. The emergence of Blockchain technology has begun to revolutionize the financial sector and is having a rapidly growing impact on many industry sectors of the world economy.
“We appreciate the warm welcome we have received in South Carolina and are proud to officially mark the expansion of the industry here,” said Greg Murphy, Vice Chairman BV Power Alpha, LLC, “Over the next couple of years we anticipate expanding our operations, investing over $72 million dollars in economic benefit for the community, and more jobs.”
Powerful computing machines process vast amounts of data to solve complex equations which “mine” Bitcoin. Over time the process of “mining” new Bitcoin becomes increasingly difficult, requiring more powerful computers with greater computational power to be successful.
“We are making strong progress in positioning South Carolina as a national leader in the emerging technology industry. There’s never been an industry quite like this one. It is inspiring green energy development and offers energy generating companies a way to operate more efficiently and balance the electrical grid. The BV project is a great initial example of the positive economic impact the blockchain industry will have for South Carolina citizens,” said Dennis Fassuliotis, President of South Carolina Emerging Technology Association, Inc.
South Carolina’s welcome of the BV Power’s Mine comes shortly after a delegation of state business leaders, rural health officials, industry stakeholders, and officials, including State Treasurer Loftis, return from an exploratory trip to El Salvador, the first country in the world to adopt Bitcoin as legal tender.
During the visit, Treasurer Loftis and the delegation met with government officials about the country’s adoption of Bitcoin. They also observed the Mi Primer Bitcoin education program firsthand and participated with the teachers and industry experts from around the world, administering a final exam to the students completing a 10- week financial literacy program that included how to use Bitcoin for daily transactions and commencement ceremonies.
A presentation capturing the efforts in El Salvador as well as Treasurer Loftis’ insights about digital assets potential impact on the Palmetto State are just part of an exciting agenda planned for the South Carolina Bitcoin Blockchain Conference in Charleston in October 5-7. Individuals representing some of the brightest minds in the blockchain technology industry will be sharing their insights on Bitcoin’s impact on energy, education, economic development, banking and more. Learn more about the conference at www.SCBlockChainWeek.com.
Pictured (Left to Right): Jerry Tang – BV Power, Congressman William Timmons, SC Treasurer Curtis Loftis, Dennis Fassuliotis – SCETA, Joesph Chu – BlockFi
For the original news story, please visit https://www.prdistribution.com/news/new-industry-expands-in-south-carolina/9320165.