Alps Blockchain

The company started with a single hydroelectric-powered Bitcoin mining facility in northern Italy and has since scaled to more than 240 MW of installed or ready-to-deploy capacity spanning Italy, Paraguay, Ecuador, Oman, and the United States. The design-build-operate model covers site selection, infrastructure construction, and ongoing operations, reducing third-party dependencies and supporting modular geographic replication with a typical deployment timeline of six to twelve months per site.

The operational fleet grew from roughly 2,500 mining machines to more than 15,000 between 2021 and mid-2024, with hashrate around 7 EH/s and an average energy efficiency of 15.4 J/TH. The 2026 roadmap targets 15 EH/s and 242 MW of deployed capacity; infrastructure contracts to support that build-out are already in place. Renewable and stranded energy anchor site selection: Italy's facilities run on hydropower, while a 70 MW facility under development in Iowa, structured as Alps U.S. LLC (first 20 MW phase) and joint venture Dolomiti U.S. LLC with U.S.-based operator Simple Mining (remaining 50 MW), will use excess wind energy. The Iowa project, expected operational by mid-2025, involves more than 10,000 Bitmain S21+ Hydro Antminers.

In Oman, Alps Blockchain deployed a 150 MW Bitcoin mining site within the Green Data City technology hub (now fully operational) as the first phase of a development that extends to 200 MW of mining capacity and, in its second phase, a 400 MW hyperscale data center.

Azimut Group, the Italian wealth management firm, is the company's primary institutional backer, executing a €40 million club deal in 2023 and a €105 million follow-on in July 2024 (the latter drawing participation from approximately 1,000 retail clients) to fund the Oman and North American build-outs. Revenue grew from €697,000 in 2020 to €17.3 million in 2022 and €43.6 million in 2023, a roughly 140% year-on-year increase. Co-founders Francesco Buffa (CEO), Francesca Failoni (CFO), and Magdi Soliman were named among Forbes Italy's top 100 talents under 30 in the Energies category and reached the Green Awards 2022 finals at the Green Tech Festival in Berlin.

In October 2025, Alps Blockchain rebranded to Alps, formalizing its transition from a Bitcoin mining operator toward a multi-workload infrastructure platform. The company's modular sites are designed to support ASIC-based blockchain compute alongside AI and HPC workloads with limited incremental capital expenditure.