Bitmain’s Planned $500mln Data Center In Texas To Create 400 Jobs
Bitmain, the world’s largest mining hardware manufacturer, is planning to build a data center and cryptocurrency mining facility in Texas. The decision is a part of Bitmain’s plan to expand its operations.
The facility, which is precisely going to be built in the city of Rockdale in Milam County, is expected to create 400 jobs. It would be a refreshing change for a region severely affected by de-industrialization, leading to job losses.
Bitmain has revealed that the facility will begin operations in 2019. The company has also projected that the new mining facility will become fully operational in a matter of two years. Bitmain is setting up the mining center with an investment of $500 million spread over a period of seven years.
The facility is set up in an abandoned Alcoa aluminum smelting facility. The local economy is expected to be rejuvenated with establishment of the mining center. Bitmain has estimated that more than 400 people would get employed in the first two years. With employment, the disposable income of people in that area will increase, leading to a positive impact on businesses and real estate.
Notably, Bitmain has stated that it would partner with schools and other educational institutions in Milam County to cultivate the necessary professional skills required to get employed in the data center facility. To further stress the seriousness of its investment plans, Bitmain has already began the process of recruiting engineers, senior management executives, technicians, finance experts, marketing personnel and research associates for its data center facility.
Bitmain has further stated that the planned Rockdale data center facility is a main element of its investment strategy and future expansion plans in North America. Established in 2013, China-based Bitmain has turned into a leader in the manufacture of Bitcoin mining equipment. Bitmain currently controls more than 70% of the market. The company is already working on its plans to go public later this year.
Jeff Stearns, executive vice president and direct of operations for Bitmain’s North America division said
“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.”