The largest Opportunity Zone Fund for Bitcoin Mining and the Miami-based Fund join forces to bring innovation to Homestead, Florida via 10MW Bitcoin facility.
HOMESTEAD, FLORIDA, UNITED STATES, November 18, 2021
Esperanza Opportunity Fund (“Esperanza”), a Miami-based investment fund, and Redivider Blockchain Opportunity Zone Fund ("Redivider"), a data center investment fund launching throughout US Opportunity Zones, are celebrating a strategic partnership to launch a Bitcoin mining facility in Homestead, Florida. Along with the city of Homestead and HPS Energy, Redivider and Esperanza intend to launch a 10MW facility with plans for additional expansion throughout 2021.
“Our team’s focus is bringing creative solutions like Bitcoin mining to Homestead. This partnership with Redivider brings a new level of excitement and the execution excellence to make it a reality” said Jose Mallea, CEO of Esperanza Opportunity Fund.
The site, situated in an Opportunity Zone, is directly connected to the electric grid operated by the city of Homestead’s electric utility company, HPS Energy, a citizen owned municipal utility. They have also struck a tentative agreement with International Speedway Corp., the owner of the Homestead-Miami Speedway, to use land near the racetrack that has access to the requisite electrical and mechanical infrastructure needed to power several thousand specialized computers used for Bitcoin mining and securing the Bitcoin network.
In its twelve years of existence, Bitcoin has proven itself to be the most secure digital system in the world. Bitcoin's blockchain has never been hacked, and zero counterfeit nor duplicate transactions have ever been verified on the network thanks to the Bitcoin mining operations like this future site at Homestead.
"Florida is at the forefront of innovation for Bitcoin. We are excited to partner with Jose and his team at Esperanza to deliver our innovations in Bitcoin mining to the Opportunity Zone in Homestead" said Tom Frazier, CEO of Redivider Blockchain.
The team is working with the City Administration and engaging the members of the Homestead City Council to obtain final approval of the project by end of year.
The Mayor of Homestead, Steven Losner, added "Homestead is poised to be the 'cradle of crypto' with the development of the Homestead Miami Blockchain Technology Park in early 2022. Our residents are eager for the jobs, blockchain education and direct community benefits that will be provided by the HMBT Park. Additionally, our Homestead Energy Services customers will also benefit from this new purchasing power and future infrastructure upgrades."
ABOUT REDIVIDER BLOCKCHAIN OPPORTUNITY ZONE FUND
Redivider is raising capital to invest in a qualified opportunity zone business that will offer computing leases and hosting services to the Bitcoin mining industry and, to the extent permitted by the opportunity zone rules, to invest in related high-growth businesses. Using the radical tax breaks available through the Opportunity Zone tax incentive, Redivider's investors may be able to defer capital gains tax on realized gains timely invested in the fund and eliminate capital gains taxes on the appreciation of fund investments held for ten years. The tax incentive presents a unique opportunity for investors in various sectors, including real estate, corporate disposition, and even cryptocurrency.
ABOUT ESPERANZA OPPORTUNITY FUND
Esperanza Opportunity Fund was founded by Jose Mallea, an entrepreneur and civic leader in Miami, with the vision of bringing technology and innovation to communities that historically have been overlooked by technological disruption. Relying on decades of public and private sector experience, they have identified unique opportunities to develop projects with significant impact in opportunity zones across the state of Florida.