Bitmain Technologies Ltd. has announced that they are launching a mining center in the USA, in the state of Texas. The mining company recently purchased a former aluminium smelter and a recently abandoned coal plant. With this acquisition, the company would benefit from a 10-year progressive tax reduction.
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Founded in 2013 and headquartered in Beijing, the international mining equipment manufacturing company has offices in Amsterdam, Hong Kong, Tel Aviv, Qingdao, Chengdu, Shanghai and Shenzhen. Bitmain owns several brands, including Antminer, Antpool and Hashnest. The company was recently valued at $ 12 billion. It is embarking on a new adventure today by injecting $ 500 million into this mining center, which will create nearly 400 jobs in the region.
The Milam County Cryptocurrency Mining Center is a key component of Bitmain’s strategic investment and expansion plans in North America.
The mining farm will be located in the town of Rockdale, which is 80 km northeast of the Texas capital. Bitmain will occupy part of Alcoa Rockdale’s former mining site, which includes an aluminium smelter and a recently abandoned coal plant. Alcoa Inc. is the world’s sixth largest producer of aluminium.
Milam County Judge Dave Barkemeyer confirmed to the local newspaper Temple Daily Telegram last week that Bitmain is moving into the area. The construction of the farm is underway and should be completed “at the beginning of the fourth quarter of 2018, for a launch scheduled for early next year,” according to Bitmain.
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