Bitmain opens officially launched its new Bitcoin mining farm in Texas. This will allow the mining giant to know in a statement that they are yesterday’s report.
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Bitcoin mining in Texas
It has been since the end of the 2018 and work on the site in Rockdale. The farm will have a total capacity of 50 megawatts (MW) of supply. It’s a total of 130,000 square feet of space. This is the equivalent of the 26 (!) football fields of space in which the mining equipment was on display.
Source: BitmainBitmain claim, however, is that they are looking to see how they have the capabilities be able to turn it to 300 MW. This would, at a stroke, the biggest mining farm in the world.
“We are very pleased to have this facility open. This is to allow for the expansion of the Bitmain around the world is very, very important. Texas has a stable and efficient supply of energy. This is a solid foundation for the inevitable growth of the mining industry, cryptocurrencies to be able to keep it.”
Project Manager: Clinton Brown, Bitmain
The plan of the Bitmain caused an initial furrowed brow. It is wonderful to see that the company is out of China to America.
They said at the time, it’s a step to have any control of that. It could be the case that crypto-mining is in the Asian country, in the future, prohibited from going to.
China and the global mining
TechCrunch reported in April that that this option be seriously considered. It would have to be a lot of energy and have a negative impact on the environment.
In this case, it was Bitmain, so a new venue must be found. Even though China is still no serious steps seem to take it in the direction of a ban, it would seem that Bitmain with this expansion into Texas, the potential for problems is a small step for love.
According to a press release, the project will involve more than 400 jobs to the area, bringing in more than $500 million into the local and regional economy pumping. Originally, it was planned to be in early 2019 and to be able to start it.
The well-known cryptowinter threw it out, however, a spanner in the works. Bitmain had to be in 2018, and some of her activities to stop.
At the time, fell as the price of Bitcoin, from about $6,000 to the mid – $3,000 or more. It started at the beginning of april 2019 at the latest signs of recovery to show. And the recovery feels like Bitmain directly. The projects that are on hold were able to have a follow-up.
Layer1, Texas
After that Bitmain is looking for Layer1 and her “salvation” in dallas, Texas. In accordance with the co-founder of the company, Alexander Liegl, this is an excellent place to have its mining business. And that’s the idea he’s not the only one: Peter Thiel, one of the founders of PayPal, is investing $50 million in Layer1.
The company will have, in total, valued at up to $200 million in the round. Now that there is money available, it is also true of the steps to be taken.
In addition, the plan for the production of energy, and the construction of infrastructure, there is also an agreement with a Chinese manufacturer for their chips. Layer1 will do everything in their own hands.
Source: The
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