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Bitmain Launches Key Crypto Mining Facility in Texas
MINING
2 days ago | Kevin Helms | 3951
Bitmain Launches Key Crypto Mining Facility in Texas
BitVit Corp.
Bitmain Technologies Ltd. is launching a crypto mining facility and blockchain data center in the U.S. state of Texas at a former aluminum smelting facility with a recently-retired coal power station. The company is reportedly getting a tax abatement phased in over 10 years.
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Crypto Mining Facility in Texas
Bitmain Launches Key Crypto Mining Facility in TexasBitmain Technologies Ltd. announced Monday the launch of its newest blockchain data center and mining facility in a rural part of the U.S. state of Texas. According to the company’s announcement:
The Milam County blockchain data center and cryptocurrency mining facility represents a key component of Bitmain’s strategic investment and expansion plans within North America.
Bitmain Launches Key Crypto Mining Facility in TexasThe facility will be located in the city of Rockdale, roughly 50 miles northeast of Texas’ capital, with an estimated population of 5,595. It will occupy a section of the former Alcoa Rockdale operations site which includes an aluminum smelting facility and a recently-retired coal-burning power plant. Alcoa Inc. is the world’s sixth largest producer of aluminium.
Milam County Judge Dave Barkemeyer confirmed to local newspaper Temple Daily Telegram last week that Bitmain is moving to the county. With the construction and facility setup underway, the facility is expected to be completed “early in the fourth quarter of 2018, with the data center initiation in early 2019,” according to the mining giant.
Bitmain Launches Key Crypto Mining Facility in Texas“Bitmain is working with Alcoa Inc. to repurpose the former aluminum smelter to become the home of Bitmain Technologies Ltd. site,” the publication elaborated, adding:
An incentive plan that includes a tax abatement phased in over 10 years was approved by the Milam County Industrial Development Corp. and the Milam County Commissioners Court.
Founded in 2013 and headquartered in Beijing, the global semiconductor and electronics manufacturing company has offices in Amsterdam, Hong Kong, Tel Aviv, Qingdao, Chengdu, Shanghai and Shenzhen. Bitmain owns several brands including Antminer, Antpool, and Hashnest. The company was recently valued at $12 billion.
$500+ Million Investment & 400+ Jobs
The facility “represents an investment of more than US $500 million by Bitmain over an initial period of seven years into the local, county, and statewide economies,” according to the company’s announcement.
Bitmain Launches Key Crypto Mining Facility in TexasBitmain expects to bring in 400 local jobs to the Rockdale economy over the first two years. The company is currently recruiting for multiple positions, ranging from senior management, sales and finance to research associates, engineers, technicians and other roles.
“The new jobs will be full-time, fully benefitted and will include positions in engineering and management, as well as opportunities for data center technicians,” the Telegram added.
Citing that the deal is a “game changer,” the Milam County Industrial Development Corporation president, Richard E. Williams Jr., was quoted by local TV station Kxxv saying:
The 400 new jobs in addition to an estimated 137 spin-off jobs could make a major dent in Milam County’s relatively high unemployment rate, while salaries and benefits are above average for Central Texas.
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