China's crypto mining giant, Bitmain, is one step closer to establishing mining facilities in Washington…
$500 Million Bitmain Data Center to Bring 400 Jobs to Texas Coal-Mining Town
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The facility is part of a projected $500 million investment into the area, and it is expected to bring in up to 400 new jobs, which will make up a key part of what locals hope is a rebirth in an area devastated by de-industrialization and job losses.
According to a statement from Bitmain, the facility, which will commence operations in early 2019 and become fully operational within two years, represents an investment of more than $500 million over an initial period of seven years into the local, county, and statewide economies.
Opened inside an abandoned Alcoa aluminium smelter plant, the facility is expected to breathe new life into the surrounding local economy, bringing in more than 400 jobs in the first two years and stemming the loss of skills, young people and money. The multiplier effect of increased disposable income on small businesses and property values in the area is also expected to be substantial.
Even more interestingly, Bitmain has also promised to partner with schools and educational institutions in Milam County to equip local students and residents with the technical and professional skills needed for careers at the data facility. To underline its seriousness about its investment plans, the company has already announced recruitment for several positions at the Rockdale data center including engineers, technicians, senior management, sales associates, finance associates and research associates.
An Emerging Pattern
According to the statement from Bitmain, the Rockdale data center is a key component of Bitmain’s strategic investment and expansion plans within North America.
Since being founded in China in 2013, Bitmain has grown in the premier maker of bitcoin mining equipment, controlling an estimated 70 percent of the market. The ongoing North American growth drive is a key part of its global expansion as it expands across Asia and Europe and prepares to go public later this year.
“Bitmain is truly honored to announce this news and is excited to work with local partners, government and stakeholders in realizing this vision, throughout the initial set-up phase, operations and beyond,” said Jeff Stearns, executive vice president and direct of operations for Bitmain’s North America division.