Bitmain to build a $500 million data center in Texas

By Dale Benton

One of the worlds leading Bitcoin mining companies is set ot build a multi-million-dollar blockchain data center, as it continues its expansion into the U.S.

Bitmain announced in a statement this week that it plans to construct a new blockchain data center and cryptocurrency mining facility in Rockdale, Milam County, Texas.

The data center will be part of a $500 million investment into Texas, as the company continues an aggressive North American expansion strategy.

With a construction start date earmarked for early 2019, Bitmain is believed to be targeting a fully operational data center within two years.

The facility will replace an abandoned Alcoa aluminium smelter plant and will represent a key driver of growth in the local economy, promising more than 400 jobs in the first two years.

Bitmain is also believed to hold close to 80% of the global market for bitcoin mining hardware.

 

Related stories:

T5 Construction Services is leading the field in data center construction

Equinix adds another 10 data centers with $792mn Metronode acquisition

DataBank looking to build on success with further data center acquisitions

 

The news comes soon after it was reported that the company has stated its intentions to go public with an IPO valued at $14 billion, following a reported $1.1 billion net profit in the first quarter of 2018.

“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.

Share

Featured Articles

Must-attend sustainability events for executives in 2022/23

Discuss and debate the most pressing issues around sustainability at these nine executive events – from London to Abu Dhabi, San Diego to Singapore

Meet the CEO on a mission to nurture women leaders in Africa

The argument for women leaders in Africa is compelling, yet numbers are small. But one female leader is on a mission to change that – Awamary Lowe-Khan

BCG's Daniel Weise on supply chain and procurement strategy

Daniel Weise, global leader of Boston Consulting Group’s procurement business line, on the timely publication of his new book, Profit From The Source

Flexible work perks heat up as the war on talent rages

Human Capital

Meet the COO: Former Israel Defense Force cyber lead Parnes

Technology & AI

People Moves: Pinterest, Amazon, DocuSign, KFC, Walmart Ca.

Leadership & Strategy