[ad_1]
The mining hardware giant Bitman has announced that its brand new blockchain data center will be located in Rockdale, Texas, in Milam County.
According to a press release released today, the new facility will start in the first few months of 2019, and the company expects the center to be fully operational in about two years, bringing over 400 new jobs to the city. The company will also invest in programs to educate and train potential employees in the functioning of blockchain technology.
The structure marks an estimated investment of $ 500 million in the local and state economy for a period of seven years. It also signals a growing movement for international blockchain and cryptocurrency companies to expand operations in the United States with the development of a favorable regulatory climate.
Milam County, where the facility is located, has seen tremendous economic weakness in recent times due to the closure of the county's coal mines. Bitmain's decision to locate the data structure in Milam County was first reported by the local Dallas News magazine in a July 19 report. The decision was not confirmed by the company until 6 August.
Construction of the facility is already underway and should be completed in the fourth quarter of 2018. This will be followed by the start of the data center in the first few months of 2019, at which point the company will start to hire and train members community for careers in the data center.
Jeff Stearns, executive vice president and operations director of Bitmain, North America, spoke of the structure, "
" Bitmain is truly honored to announce this news and is excited to work with local partners, government and stakeholders in the realize this vision, during the initial phase of installation, operations and beyond. "
Bitmain's Expansion for the United States in the Greater Regulatory Clearance
The news of the Bitmain-based blockchain structure in Texas follows the news that the company is building similar structures in the state of Washington.
This past April, the cryptocurrency giant received controversial approval to begin construction of a massive mining operation in the state, critics of the Washington mining structure claimed it would generate wealth for society, but wealth would not enter the pockets of employees.
Bitmain's expansion in the United States comes when the federal government is promoting more freedom for fintech companies.In a recent Treasury report addressed to President Donald Trump, the Department of US Treasury claimed that the best regulatory environment for fintech companies (including block companies chain) is a sandbox environment, which allows operations and experimentation without being suffocated by regulations.
report in part declared:
"The support of innovation is fundamental in the whole regulatory system – both at federal and state level … The Treasury supports the launch of new business models … for pursue innovative technologies to reduce costs, improve customer performance and improve access to credit and other services. "
In addition to the expansion of operations in the United States, also Bitmain, based in Hong Kong , tried to expand operations in Brazil. The company has also successfully opened cryptocurrency mining facilities in Israel and Switzerland, guaranteeing their position as an international multi-billion dollar power plant.
Featured image of Shutterstock.
