China-based cryptocurrency mining hardware company Bitmain has confirmed Rockdale, Texas as its next location to spearhead the way for its takeover of the US.
Texas operations
Rockdale will benefit from Bitmain’s investments totaling over USD 500 million in the following seven years, with plans to launch mining operations in early 2019. The location will employ 400 individuals for the new Texas blockchain data center, offering educational services and training programs for aspiring employees.
The location was described by Bitmain as a ”strategic investment” for the company, putting them in a prime spot to begin expansion plans across the US. The firm confirmed the plans Monday after speculation began circling last month when Dallas News reported Bitmain had purchased an unused smelting facility.
Despite the positive local press acknowledging the benefits of such an investment in a town recently hit by difficult economic times due to the closure of the coal mines, Bitmain and public officials declined to comment until this week. The article hinted however, it was an open secret shared among Rockdale residents.
Job openings for the new site have already reached online listings for those looking to join the firm as it begins its US expansion.
Bitmain’s recent moves
The Texas location follows Bitmain’s approved land lease in Washington State received in April, with the firm planning to set out a large-scale mining operation in the area. The state has, however, received several complaints from residents regarding the sustainability of cryptocurrency mining.
The cheap electricity tariffs have attracted many mining operations to the area, with locals reportedly concerned about the amount of energy being consumed. Some have suggested that an increase in the use of renewable energy resources in the mining process would stem the complaints.
Brazil is also supposedly on the agenda for Bitmain, with one article suggesting the firm is looking to open offices in the country.
Bitmain has already international footholds in Switzerland and Israel where it carries out its mining operations.
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