Routemaster Capital Inc. (TSX VENTURE:RM) is to invest USD$1.35m and acquire a 49% interest in Pinedale Springs, LLC, a company that currently owns and operates a solar farm and cryptocurrency data center in Cary, North Carolina.
The completion of the transaction is subject to satisfactory completion of due diligence by Routemaster, execution of a definitive agreement and all required approvals and consents. Following the close, the current management of Pinedale will continue to operate the facility, with Routemaster acting as an advisor.
Pinedale Springs operates a “proof of concept” facility that undertakes cryptocurrency mining with lower carbon dioxide emissions than traditional fossil fuel power generation. The company’s business model will allow those who wish to participate in the cryptocurrency market to do so in an environmentally friendly company following The strong Environmental, Sustainable, Governance practices and policies.
Pinedale’s solar-cryptocurrency facilities are currently cash flow positive.