Bitcoin [BTC] mining company setting up blockchain data centre and mining facility in Texas
Bitmain, one of the biggest Bitcoin [BTC] mining and Application-Specific Integrated Circuit [ASIC] has announced that the company will be opening a blockchain data centre and a mining facility in Texas. The centre will be located in the Rockdale, Milam County in Texas.
The company states:
“This represents an investment of more than $500 million by Bitmain over an initial period of seven years into the local, county, and statewide economies.”
The statement released by the Bitcoin mining company further states that the new centre is a key part of the company’s investment strategy. The centre will also enable Bitcoin to expand over North America and have the forefront in terms of mining.
The Texas blockchain data centre and mining facility will be beginning its operation in 2019. The construction of the operation site is set to be completed by Q4, this year. They claim that this would result in bringing 400 local jobs for the first 2 years and thereby contributing to the local economy.
Jeff Stearns, the Executive Vice President and Operations Director of Bitmain says:
“Bitmain is truly honored to announce this news and is excited to work with the local partners, government and stakeholders in realizing the vision, throughout the initial set-up phase, operations and beyond.”
Moreover, the speculation of Bitmain mining facility in Texas has been going on for over a month. According to reports, the residents referred to it as one of the worst-kept secrets of Rockdale.
Jan Yakira, a cryptocurrency enthusiast:
“As if they needed more mining power for BTC. Bitcoin is centralized now.”
cdb_int_citizen, a Redditor says:
“You dont need a lot of staff to run a mining farm.”
Vegasluna, another Redditor says:
“bitmain $500m for one blockchain datacenter… other doods cant even come up with a million.”
The announcement comes in the limelight after the completion of Bitmain’s pre-IPO. The company received over $1 billion from three major companies, Tencent, Softbank and China Gold. Moreover, the company is set to conduct an Initial Private Offering through the Hong Kong Stock Exchange. With the inclusion of the investment raised in the pre-ICO, the company is currently valued at around $15 billion.
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