Bitmain Technologies Ltd. has opened a Crypto mining facility in Texas, USA. The company will occupy a facility that previously hosted an aluminum smelting company and has a recently-retired coal power station. The local government has already offered the firm a tax abatement that will be scrapped after 10 years. The new facility is expected to create about 400 job opportunities.
Bitmain To Open A Crypto Mining Plant In Texas
On Monday, Bitmain Technologies Ltd. announced plans to set up a Crypto mining facility in Texas. The facility, which will also be the company’s newest blockchain center, will be located in the rural parts of Texas. The firm has said that that the opening of the new facility is part of its strategic investment and expansion plans in the US and entire North America.
Bitmain will open the facility in the city of Rockdale, about 50 miles northeast of Austin City. The small city has a population of about 5,595. The new facility will sit on the site where Alcoa Rockdale operations were based. Alcoa Inc., which is among the largest aluminum producers in the world, had an aluminum smelting facility in the city. The area also has a coal-burning power plant that was recently switched off.
Last week, Dave Barkemeyer, the Milan County judge told the Temple Daily Telegram that the Shanghai-based Crypto mining company is moving to the county. The construction of the new facility is already underway according to the company. The facility will be completed at the beginning of the fourth quarter of this year while the data center initiation will be ready early next year.
The local newspaper also said that the mining giant is working with Alcoa Inc. to convert the former aluminum smelter into the Bitmain Technologies Ltd. site. The paper also added that the Milam County Commissioners Court and the Milam County Industrial Development Corp. have already approved a tax incentive phased in over 10 years.
Bitmain And Its Worldwide Operations
Bitmain was established in 2013 and has its main offices in Beijing, China. The company has a strong international presence with offices in Shenzhen, Shanghai, Chengdu, and Qingdao in China. The business also has offices in Tel Aviv, Hong Kong, and Amsterdam. The giant Crypto mining firm is believed to be worth around $12 billion.
The New Facility to Create More Jobs
Bitmain has said in its website that it will invest US $500 million in the facility in a period of seven years. The money will be pumped into the local, county, and state economies. In the first two years, the facility will create around 400 jobs in the Rockdale economy. Some of the positions the company is currently recruiting include areas such as senior management, technicians, engineers, research associates, and sales among others.
The news outlet has added that the new opportunities will be full-time jobs. They will also involve different positions and ranks in engineering and management. Data center technicians will also find a place in the new facility. Richard E. Williams Jr., the president of the Milam Country Industrial Development Corporation has said that the company will help in creating employment in a place with a relatively high unemployment rate. He also noted that the company will offer salaries and benefits that are above the mean for Central Texas.