21 Oct 2019 Josphat Kariuki
Bitmain Opens World`s Largest Bitcoin Mining Facility
Bitmain collaborated with Rockdale’s Municipal Development District and Canadian fintech company DMG Blockchain Solutions.
Bitmain claims to help Rockdale’s local economy. The new facility is rated for 25 MW capacity, with plans for expansion of up to 300 MW. The site’s area is approximately 33,000 acres. DMG would help Bitmain expand its mining capabilities and provide both onsite and online hosting and management services for increased mining operations efficiency.
John King, Rockdale’s Mayor, said that the company would be the backbone of future industry development in Rockdale. This is Bitmain’s third U.S.-based site.
Bitmain plans to use local hardware suppliers and workforce to help boost Rockdale’s local economy. Also, the company will purchase all used electricity directly from Rockdale’s power supplier. Plans also include educational classes and blockchain courses for data center operators, in cooperation with Rockdale’s school district.
The Chinese mining hardware giant follows its plans for global expansion, as the Texas site plans were announced in mid-August 2018.
The total investments would exceed $500 million, and the company will employ at least 400 local workers in the first couple of years. Bitmain, however, suffered from staff layoffs, mostly due to the rough start for Bitcoin at the beginning of 2019.
Clinton Brown, hired as a Project Manager for Rockdale’s site, stated that the new facility is “a significant milestone in Bitmain’s global expansion plans.” Brown believes Rockdale’s efficient and stable power supply resources would be “an ideal boost to the scalability and growth to the facility.”Bitcoin mining btc Bitcoin mining Bitmain Bitmain Crypto Index bitcoin news cryptocurrency news bitcoin news today US