Bitmain, one of the largest Bitcoins [BTC] mining and Application-Specific Integrated Circuit [ASIC] announced that the company will open a blockchain data center and mine in Texas. The center will be located in Rockdale, in the county of Milam, Texas.
The company states:
"This represents an investment of over 500 million dollars by Bitmain for an initial period of seven years in the territory, in the county and economies throughout the state."
The declaration Issued by the mining company Bitcoin also states that the new center is a fundamental part of the company's investment strategy. The center will also allow Bitcoin to expand on North America and be at the forefront of the mining industry.
Texas's blockchain data center and mining facility will start operating in 2019. Construction of the operating site will be completed by the fourth quarter of this year. They argue that this would result in the creation of 400 local jobs for the first 2 years, thus contributing to the local economy.
Jeff Stearns, executive vice president and chief operating officer of Bitmain states:
"Bitmain is truly honored to announce this news and is excited to work with local partners, the government and stakeholders to realize the vision, during the initial phase of installation, operations and beyond. "
In addition, the speculation of the Bitmain mining facility in Texas has been going for over a month. According to reports, residents referred to it as one of Rockdale's most secret secrets.
Jan Yakira, a fan of cryptocurrency:
"As if they needed more mining power for BTC, Bitcoin is centralized now."
cdb_int_citizen, a Redditor says:
"You do not need much staff to manage a mine. "
Vegasluna, another Redditor says:
" bitmain $ 500m for a blockchain datacenter … other doods can not even make a million. "
The announcement comes under the spotlight after the completion of Bitmain's pre-IPO. The company has received over $ 1 billion from three major companies, Tencent, Softbank and China Gold. In addition, the company is set to conduct a private initial offering through the Hong Kong stock exchange. With the inclusion of the investment raised in the pre-ICO, the company currently has a value of around $ 15 billion.