Blockchain venture company Blockmate Ventures is launching its own cryptomining unit.

Blockmate Ventures last week announced the launch of its dedicated Bitcoin mining business, called Blockmate Mining. The subsidiary will aim to deploy a total of 200MW of mining capacity amid a long-term Bitcoin holding strategy.

Blockmate Mining will build out its site next to a 200MW power substation in Wyoming. Further details on location weren't shared.

The first phase will begin with 10MW of power dedicated to Bitcoin mining in the next six to twelve months, followed by an expansion to 50MW, coinciding with $55 million more in funding.

At full capacity, the site will be expected to produce 200 Bitcoins per month. Given the 3.3 cents per kilowatt-hour energy pricing at the Wyoming site, as well as Blockmate’s plans to hold or invest the BTC coins in the long term, the company foresees a projected profit margin of around seven to 15 percent per year.

Blockmate Mining views the Bitcoin data center as part of its strategic move into digital infrastructure, which will include long-term Bitcoin accumulation, a potential artificial intelligence (AI) data center spinout, and a future NASDAQ listing.

“Blockmate Mining is a natural extension of our mission to deliver long-term value through real digital asset infrastructure,” said Justin Rosenberg, CEO of Blockmate Ventures.

“With our Wyoming site secured and investor interest already strong, we’re positioned to build a highly scalable and capital-efficient mining operation. We’re focused on both generating Bitcoin and maximizing its long-term value for shareholders,” Rosenberg added.

Blockmate Mining will have to raise an initial $15m to get started, followed by a further $55m to take the site to full 200MW capacity.

Domenic Carosa, founder & chairman of Blockmate Ventures, said demand is meeting supply at just the right time for Blockmate to capitalize on digital infrastructure projects.

“With rising global demand for compute infrastructure, our Wyoming site offers the flexibility to support both AI and HPC workloads alongside Bitcoin mining. Blockmate Mining is uniquely positioned to capitalize on both the digital asset and AI revolutions,” Domenic said.