Bitmain Has Landed
Chinese hardware firm Bitmain has gone ahead and chosen a location for their new Cryptocurrency Mining Facility in the United States. The ASIC hardware producer has selected Rockdale, Texas as the prime location for their farm scheduled to open at the beginning of 2019. The location is on the site of an old aluminium smelting works.
Bitmain is apparently putting $500 million into the facility over the next few years to ensure the success of this new data center for Blockchain. This is a very strategic move for the company who made a huge amount of profit from their ASIC hardware processing units in 2017. This new center is being built as we speak and will have money ploughed into it by Bitmain over the next seven years showing a long term commitment by the company. The reason behind the move is to support the Chinese company in its bid to expand into the North American market.
The new facility will be able to offer job opportunities for 400 locals with plans already afoot for training programs for future employees too. Bitmain really is thinking ahead and out of the box to ensure this new venture works. Bitmain – which is reportedly valued at a staggering $12 billion – has already started the search for their employees. Job adverts have gone onto online job sites already. Roles such for senior management, finance and engineers as well as many others have already been posted.
Another USA Site
The Chinese giant has already got approval to lease a plot of land in Washington state for another Crypto mining facility. Initially these plans did not go down well with local residents who are still very unsure about Cryptocurrencies and mining. Further a field, the company is looking at Brazil for another location for offices with a few operations already up and running in Switzerland and Israel. There are further offices and centers in Amsterdam, Hong King and Singapore.
Where’s The Power
Bitmain continues to expand its web further and we have already seen the company explore new fields with a large amount of money invested into search engine Opera. The company has the money to spend and certainly the foresight to develop where it sees fit. It will be interesting to see how this new facility in Texas is powered. As we all know, Crypto mining takes up and awful lot of power – which is a bone of contention with many – and where this electricity is coming from is unknown at the moment. Whether the power will be green is also something which has not yet been discussed. However, Bitmain is not the first company to select an aluminium plant for its mining operations, there is already one up and running in New York. So there is definitely an interest in these old plants as the power infrastructure is already in place for the mining to go ahead. In New York, the power is being supplied from the national grid as well as a river for hydroelectric power. There will certainly be a lot of eyes watching this new development, that is for sure.