2661/5000The famous Chinese cryptocurrency hardware manufacturer, Bitmain has announced that it has opened what appears to be “the world’s largest facility” for Bitcoin mining in Rockdale, Texas.
The news was announced on Monday when Bitmain said the farm can expand to a capacity of more than 300 MW, which if they think it is impressive. Therefore, this has blessed her as “the largest Bitcoin mining farm in the world.” According to the announcement, the mining farm is currently 50 megawatts (MW) on 33,000 acres.
Project leader Clinton Brown in the statement commented:
“We are excited to launch this facility, which is important for Bitmain’s global expansion plans.”
Adding thus the importance that represents in Texas to obtain stable and efficient energy resources, which contributes to the escalation of the mining industry.
In this way, it is the third mining project by Bitmain that takes place in the United States. An important aspect is that, to achieve this, the company partnered with the Rockdale Municipal Development District and DMG Blockchain Solutions, a Canadian technology firm.
According to what was stated in the announcement, it will be DMG who will manage and operate the mining facilities in Texas and, Bitmain will be responsible for purchasing energy directly from the Texas Electric Reliability Council (ERCOT).
An elementary aspect is that Bitmain has ensured that he plans to work closely with the objective of establishing a team in the field of installation along with the local workforce commission. It also ensures that it is committed to finding local suppliers with the objective of supporting ongoing construction work.
From what it seems that Bitmain is interested in supporting the local economy, it even appears that the company has committed to launch educational and training programs on Blockchain technology along with the Rockdale school district.
However, it must also be borne in mind that this seems to be a movement aimed at diminishing China’s dominance over cryptocurrency mining.
It has not been easy at all to get to this. Recall that, earlier this year, the plans that the company had for Texas were suspended and the reason was linked to the significant drop in prices seen in the crypto market during 2018.
In addition, it is worth bearing in mind that, this announcement comes at a crucial time for Bitmain, a company that is currently seeking its initial public offering (IPO) in the United States.