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Why did a Bonner, Montana bitcoin company decline a $416,000 state grant?

August 31, 2017View for printing

"Why do you want to hurt our business?" a company representative identifying himself only as Dan asked the Indy, questioning the paper's motive in reporting this story. "We need privacy for our business. We're in a hypercompetitive marketplace. ... The last thing I need is for people to know where we are."

Why do bitcoin mines require secrecy? Dan, the Project Spokane representative, hung up at that question.

A state grant aimed at helping a Bonner bitcoin mine become the largest in North America and add 65 jobs to the local economy has been declined after the company was apparently blindsided that its award of $416,000 would be publicized.

The opaquely named Project Spokane, located in the old Bonner sawmill, signaled its intent in August to decline a Big Sky Economic Development Trust Fund grant. The grant is administered through the county, and on Aug. 23, the Missoula Economic Partnership asked county commissioners to sign a letter declining the state's offer.

By Derek Brouwer ... oid=4863984
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