Bitcoin mining giant Bitmain to invest in $500M cryptocurrency mining farm in Texas

Bitcoin mining giant Bitmain to invest in $500M cryptocurrency mining farm in Texas 20497
News
Roshni Vayyapuri
Aug 7, 2018 at 6:15 PM

Bitcoin [BTC] mining firm Bitmain, has announced their plans to introduce its new blockchain data center to be built in Texas. The firm will build a $500 million blockchain data center and mining facility in Texas as part of its expansion into the U.S. market, according to reports.

Based on the announcement the initial phase will begin in the first quarter of 2019. The firm expects that the innovative project would open over 400 jobs in Rockdale, Milam County.

The firm is reportedly planning to expand their territory to North America, Rockdale data center is the main component of Bitmain’s investment and expansion plans within North America.

Jeff Stearns, executive vice president and director of operations for Bitmain’s North America division said, “Bitmain is truly honored to announce this news and is excited to work with local partners, government and stakeholders in realizing this vision, throughout the initial set-up phase, operations and beyond.”

See also: NinjaTrader partnered with Coinbase to Integrate data of Cryptocurrencies including, BTC, ETH, BTH, LTC

The U.S. and Canadian authorities have raised voice against the cryptocurrency mining in their respective countries. Despite this business persons and traders are approaching them for electricity at a cheaper rate.

Bitmain Technologies, the world’s top crypto mining firm, has reportedly roped in Chinese tech giant Tencent Holdings among other big league investors for its $1 billion financing round. This round, which will precede Bitmain’s application to go public in Hong Kong, is expected to close this week.

Image via Shutterstock

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