Bitmain Technologies, one of the world’s largest bitcoin mining company has announced its plans to open a new data center in the city of Rockdale, Milam County, Texas.
The China-based cryptocurrency mining company is also seeking new project manager and data center site manager to operate a new plant to be located in Rockdale, Texas, a small town a few miles south of Waco.
This new data center would cost Bitmain over $500 million in investment over a period of seven years, which, it says, represents a key component of its strategic investment and expansion plans within North America. The new facility will employ up to 400 Texas citizens, and Bitmain also intends to launch educational and training programs within the first two years for potential employees.
As of this moment, the facility is already under construction and is expected to be completed in the fourth quarter of 2018. This will be proceeded by the initiation of the data center in the first few months of 2019.
The news of Bitmain’s new data center has been well received by residents of Rockdale, Milam County: “These are technical jobs, these are well-paid jobs,” said Rebecca Vasquez, chair of the local Chamber of Commerce, stated that she hopes the business will bring new homeowners to the area and increase its tax base.
Bitmain which is valued at $1.2 billion with a net margin of approximately 50% in 2017 according to Fortune. The company reportedly secured $1.1 billion in net profit just in the first quarter of 2018 and net profit for the full year is projected at somewhere around $2 to $3 billion. In April, Ant Creek, an American subsidiary of Bitmain, secured approval to set-up a mining facility in Walla Walla County in Washington.