Bitcoin Mining Giant Bitmain invests $ 500 million in Texas Data and Mining Facility

Bitcoin (BTC) mining company Bitmain will build a $ 500 million blockchain data center and a Texas mining facility as part of its expansion into the US market, the company revealed in a press release on August 6th.

Bitmain, which is valued at around $ 12 billion after its funding round in early July, appears to be planning to schedule an Initial Public Offering (IPO) in a market with shares denominated in the United States.

The new Bitmain data center will occupy the former Alcoa foundry in Rockdale, Texas, with the estimate that construction and set-up will be completed in the fourth quarter of 2018 and the center will be "started" at the ; beginning of 2019.

Last month, job offers for a Project Manager and a Data Center Site Manager for Bitmain in Rockdale had been published on Indeed.com, with Bitmain confirming only the location of the center in the press release of the 6 August.

The press release notes that Bitmain expects to bring 400 jobs in the first two years, citing $ 500 million as a total investment in the economy for an initial seven-year period.

Despite the mixed noises from US and Canadian authorities regarding cryptocurrency extraction, both countries have become targets for companies seeking cheaper costs of electricity in new jurisdictions.

In June, the Coinmint mining company confirmed that it would transform an old chimney plant in New York into a Bitcoin mining facility.

And in Canada, the local miner Hut 8 launched its second mining facility in mid-July, becoming the "largest publicly traded operator" in the world by capacity in the process according to the figures published at the time.

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