Bitmain, a Chinese crypto hardware manufacturing firm has launched what it terms as the “world’s largest” bitcoin mining facility. The firm unveiled this news via a news release on October 21, noting that the mine is based in Rockdale, Texas. In the announcement, Bitmain noted that it worked with the Rockdale Municipal Development District and DMG Solutions to complete this project.
According to the press release, the bitcoin mine has a 25MW capacity at the moment. The entire project sits on a 33,000-acre tract of land owned by the Aluminum Company of America (Alcoa). Construction began in the past year and Bitmain will continue working to complete a remaining 50MW. Per the announcement, the firm can expand the project to a capacity of more than 300MW in the future. This would make it the largest crypto mine in the world.
Commenting on this development, Rockdale’s lead project manager for Bitmain, Clinton Brown said,
We are excited to launch this facility, which is significant to Bitmain’s global expansion plans. The stable and efficient energy resources in Texas are fundamental to the inevitable scale of growth for the cryptocurrency mining industry,
Bitmain Pledges to Promote the Rockdale Economy
The news release emphasizes on working with the local economy of Rockdale. This would, in turn, help boost the local economy. John King, Rockdale’s mayor noted that working with Bitmain would see it play a big role in creating new industries in the area.
DMG Solutions is set to provide hosting and management services for the bitcoin mine. The firm will work hand-in-hand with Bitmain to increase the mine’s capacity. It would also ensure that the mining operations flow smoothly.
Sheldon Bennett, DMG Solution’s COO said,
This mining facility marks a major milestone in the development of the mining farm industry. We are proud to partner with Bitmain, the leading innovator in this sector.
Per the news release, the firms would look to local suppliers instead of vendors to support this expansion. On top of this, Bitmain would also buy electric power directly from the Electric Reliability Council of Texas (ERCOT).
Apart from boosting the local economy, Bitmain also intends to roll out education programs together with the Rockdale school district. These programs would help offer training on the blockchain and mining data center operations.
This news comes after Bitmain first announced the launch of its Texas facility in August last year. At that time, the firm said that it would create 400 local jobs in the first two years. Also, the company quoted $500 million as the total amount it sought to invest in the economy over a span of 7 years.
However, a report surfaced in January this year claiming that the firm had decided to downscale this project. Steve Young, a Milam County judge issued a statement saying that the firm had laid off most of its workforce in the area. The only exceptions were two Bitmain engineers and the director of human relations. Rumor had it that the company made this decision following the poor market conditions earlier this year.
Do you think Bitmain’s mining facility will help boost crypto adoption in Texas as well? Let us know in the comments section below.