Unknown Group Pays $175 Million For 74,000 Acres In Nevada For Mysterious Ethereum Project

Unknown Group Pays $175 Million For 74,000 Acres In Nevada For Mysterious Ethereum Project:

All told, Blockchains bought 74,000 acres for $175 million – the largest deal since the park was developed in 1998, and more than the Gigafactory and the other corporate campuses.

A little-known company focused on the underlying technology behind cryptocurrencies such as Bitcoin has purchased a huge chunk of land at a Northern Nevada industrial park.

Storey County Commissioner and Tahoe-Reno Industrial Center broker Lance Gilman said he closed escrow last week on the sale of 67,125 total acres of land to Blockchains, LLC, a business that studies and develops applications for blockchain distributed ledger technology, the decentralized platform that makes up the backbone of Bitcoin and other cryptocurrencies

Though Gilman said he was prohibited from discussing terms of the sale, which is expected, he said that total value of the 74,000 acres in land sales closed this month at the park, including the sale to Blockchains, was worth about $175 million.

“There’s no question — they’re going to have a major footprint in the Tahoe-Reno Industrial Center,” he said.

But little information is publicly available about the company or its intentions, though Gilman says they now own more than 104 square miles at the industrial park. The land sale was first reported by Nevada Newsmakers.

According to the company’s website, which provides only a vague description of what the company does, Blockchains, LLC is a “premier innovator” in the blockchain industry, specializing in “financial services, software development of distributed applications (Dapps) for the Ethereum blockchain.”

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