(BTC) firm will build a $500 million data center and mining facility in as part of its expansion into the market, the company revealed in a August 6.
Bitmain, which is at around $12 billion after its early July funding round, is also reportedly to plan an overseas Initial Public Offering (IPO) in a market with U.S. denominated shares.
Bitmain’s new data center will take over the former Alcoa smelter in Rockdale, Texas, with the estimation that the construction and set-up will be completed in the fourth quarter of 2018 and the center set to be “initiated” in early 2019.
Last month, job vacancies for a Project Manager and a Data Center Site Manager for Bitmain in Rockdale had been on Indeed.com, with Bitmain only confirming the center’s location in the August 6 press release.
The press release notes that Bitmain expects to bring in 400 local jobs in the first two years, quoting $500 million as the total investment into the economy over an initial period of seven years.
Despite mixed noises from both U.S. and authorities regarding cryptocurrency mining, both countries have become targets for businesses seeking out cheaper electricity costs in new jurisdictions.
In June, mining firm Coinmint it would transform a former smokestack facility in upstate New York into a bitcoin mining facility.
And in Canada, local miner Hut 8 its second mining facility in mid July, becoming the world’s “largest publicly-traded” operator by capacity in the process according to figures published at the time.
Published at Tue, 07 Aug 2018 10:41:00 +0000
