01:14 PM EDT, 05/27/2025 (MT Newswires) -- Blockmate Ventures ( MATEF ) on Tuesday said it launched its wholly owned subsidiary Blockmate Mining.

The company said the new entity will pursue a long-term "mine-and-hold" strategy, accumulating Bitcoin on its balance sheet as it scales operations.

Blockmate Mining secured a site in Wyoming next to a major power substation, with the potential to support up to 200 megawatts (MW) of mining capacity. It plans to start with an initial 10MW deployment within the next 6 to 12 months and scaling up to 50MW, subject to capital availability. At full capacity, it is estimated the company will produce approximately 200 Bitcoin per month.

The company is exploring ways to raise capital, including through traditional equity, strategic investor partnerships, and innovative tokenized financing models linked to future Bitcoin output. It further added that the first funding milestone targets US$15 million to activate the initial 10MW, with a follow-on $55 million to scale to 50MW.

Blockmate Ventures ( MATEF ) plans to eventually spin out Blockmate Mining as a separately listed entity, with NASDAQ as the preferred destination.

"We see a significant opportunity beyond Bitcoin," said Blockmate Ventures' ( MATEF ) Founder & Chairman Domenic Carosa. "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."

The company's shares were last seen down $0.005 to $0.12 on the TSX Venture Exchange.

Price: 0.12, Change: -0.01, Percent Change: -4.00