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Blockchain Company Buys Enough Land In Nevada To Build A City Next To Tesla's Gigafactory

If one company’s recent land acquisition is any indication, the cryptocurrency market is only picking up speed.

Blockchains, LLC, named after the technology underpinning bitcoin, has closed on a 67,125-acre piece of land in the Tahoe-Reno Industrial Center, a Northern Nevada industrial park, The Nevada Independent reports

Reno, Nevada

While terms of the deal have not been disclosed, the land is estimated to be valued at around $175M and will soon be home to Blockchain’s new corporate headquarters and software design research center. 

The industrial center is also home to Tesla, which owns an estimated 2,800 acres of the park. The company was one of the first to invest in the area as a location for its $5B gigafactory. Google and data center operator Switch have also signed on as tenants in the park.

Blockchains, LLC works to create ideas, ventures and businesses related to the blockchain space, as well as develop ethereum blockchain applications. Ethereum is one of the most used crytocurrencies in the world.

Details of the planned Blockchain campus remain limited, but there are reports that a planned residential and retail project called “Emerald City” could leverage Blockchain's technology and expertise in the new city project, Nevada Newsmakers reports.