According to news.bitcoin on August 7th, mining giant Bitmain will establish a cryptocurrency mining base and blockchain data center in Texas, USA. According to reports, the company received a 10-year tax reduction policy locally.
Bitmain announced on Monday that it will build its latest blockchain data center and mining base in a rural area in Texas, USA. The company wrote in the announcement:
The blockchain data center and cryptocurrency mining base in Miram County, the United States, are key components of Bitmain's strategic investment and expansion plan in North America.
The base will be located in Rockdale, about 50 miles northeast of the capital of Texas, with an estimated population of 5,595. The base will occupy part of the aluminum smelter and coal-fired power plant, the former operating site of Alcoa Rockdale. Alcoa Inc. is the sixth largest aluminum producer in the world.
Miram County Judge Dave Barkemeyer confirmed to the local newspaper Temple Daily Telegram last week that Bitmain will move to the county. With the start of the construction of the new base, the mining giant is expected to be completed by the beginning of the fourth quarter of 2018, and the data center will be launched in early 2019.
Telegram reported in detail that Bitmain is working with Alcoa Inc. to transform this former aluminum smelter into Bitmain's home field. The report also mentioned:
The Milam County Industrial Development Group and the Milam County Court approved an incentive plan that includes a 10-year tax cut.
Beijing-based Bitmain was established in 2013 and has offices in Amsterdam, Hong Kong, Tel Aviv, Qingdao, Chengdu, Shanghai and Shenzhen. Bitmain owns multiple brands including Antminer, Antpool and Hashnest, and the company's recent valuation is US$12 billion.
US$500 million investment + more than 400 job opportunitiesIn the announcement, Bitmain claimed that it would invest more than US$500 million in the base in the first seven years and expected to bring 400 jobs to Rockdale in the first two years. The company is currently recruiting senior management personnel, sales, finance, assistant researchers, engineers, technical personnel and Other positions.
According to Richard E. Williams Jr., president of the Miram County Industrial Development Group, the deal means a turning point in the local economy:
These 400 new jobs and about 137 ancillary positions may have a significant impact on the relatively high unemployment rate in Miram County, and the wages and benefits will be higher than the average in central Texas.
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