The so-called Mining giant in Crypto industry Bitmain has recently made an announcement about its investment in building Blockchain Datacenter in Texas. As per reports, the investments costs around $500 Million USD for over 7 years time.
This investment represents a key factor for the company as it would help expand its business in North America. Also, the chosen city for construction is Rockdale, Milam County in Texas.
Bitmain plans to complete its first phase of construction by the end of 2018 and roll out its initial operation early in the next year. Essentially this development is expected to create employment opportunity for over 400 people in coming two years. The company is also planning to partner with local schools and educational institutes in order to gear up the upcoming candidates with required technical help.
It’s well-known fact that Bitmain is famous for its crypto-mining hardware and used by popular mining pools such as Antpool and BTC.com
With this investment, Bitmain will certainly create a great hold in cryptocurrency mining market and blockchain industry in general. We also have seen an abrupt price surge for ASIC chips a few months back and developments like these add-ons to the huge profit made by the company.
As an overview of profits earned by the company comes around up to $1 billion for the first quarter of this year. It remains to be seen what’s next big move by Bitmain.
What do you think of this investment by Bitmain? Let us know your thoughts in the comment section below.
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