Canadian company to use Romanian energy for Bitcoin mining

Transeastern Power Trust, a Canada-based company, has finalised the acquisition of the OMV Petrom’s Dorobantu wind park to use the energy to mine cryptocurrencies.

The company completed the acquisition of the 45MW wing park using USD 23 million of short-term bridge financing and a EUR 2.8 million vendor financing from OMV Petrom, which will be repaid from the proceeds of the previously announced USD 40 million private placement scheduled to close in the first week of January 2018.

The company announced that it would change its name to Blockchain Power Trust to reflect the new business model.