Bitmain Plans To Build a $500 Million Mining Facility and Data Center in Texas

Bitmain – a Bitcoin (BTC) mining giant – plans to build a mining facility and data center worth $500 million in Texas. The firm is making this investment as part of its expansion into the United States market. This information was revealed by the firm in a press release a few days ago.

The New Data Center of Bitmain

Bitmain – whose net worth is about $12 billion after its funding round in July – is also allegedly considering an overseas IPO (Initial Public Offering) in a market with denominated shares of the US. The new data cent of the firm will replace the former Alcoa smelter in Rockdale, with the estimation that the set-up and construction will be rounded up in the last quarter of this year and the center will begin operation early next year.

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Last month, Bitmain in Rockdale posted job vacancies for a Data Center Site Manager and a Project Manager on Indeed.com. The press release notes that the firm plans to bring in 400 new local jobs in the first twenty-four months.

Despite mixed noises from both the authorities of Canada and the US regarding digital currency mining, both nations have become a preferred location for firms that are looking for cheaper electricity costs in new jurisdictions.

In June, Coinmint – a digital currency mining company – said that it would convert a former smokestack facility in New York into a BTC mining facility. In mid-July, Hut 8 (a local miner in Canada) launched its second mining facility – making it the largest publicly-traded operator in the world by capacity in the process.

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Bitcoin (BTC) Price Today – BTC / USD

Name Price24H (%)
Bitcoin (BTC)
$6,693.35
-0.26%

Bitcoin (BTC) has lost over 2 percent of its value in the past twenty-four hours, leaving the digital currency to trade at $6,340. The market cap of the coin has also reduced to $109.56 billion and its trading volume over the past twenty-four hours is $4.72 billion.


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