Bitmain Will Invest $500 Million In Texas

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Bitmain, a Bitcoin (BTC) mining company will build a data centre and mining facility in Texas. The project is a part of Bitmain’s expansion into the US and will reportedly cost $500 million.

The Texas location has been confirmed in August 6 press release. It will take over an old Alcoa smelter in Rockdale, Texas. The construction is estimated to be completed at some point in the fourth quarter of 2018. The centre is supposed to go live in early 2019.

400 new jobs

According to the press release, the project is expected to bring 400 new jobs during the first two years. Bitmain plans to prepare members of the local community for careers at the data centre, by partnering with local educational centres and schools.

“Bitmain is truly honored to announce this news and is excited to work with local partners, government and stakeholders in realizing this vision, throughout the initial set-up phase, operations and beyond,” – said Jeff Stearns, executive VP of Bitmain, North America.

Bitmain is currently valued at over $12 billion. Its headquarters are in Beijing, while multiple product and research centres are located in Amsterdam, Hong Kong, Silicon Valley, Singapore and Zug, to name a few.

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