Bitmain Bitcoin Mining Data Center in Texas

All About the Bitmain Data Center in Texas

 

Back in July 2018, the largest Bitcoin miner in the world, Bitmain, made an announcement that they would be constructing an all-new data center and mining facility in near Austin TX in Rockdale, Texas. The company planned to invest more than $500 million in United States dollars over seven years into the state, county, and local economies. This blockchain data center in Milam County was intended to be a prime part of the company’s strategy to expand and invest in North America.

 

All About Bitmain

 

Bitmain was founded in 2013 and acts as a semiconductor and blockchain company dedicated to designing and creating high-performance software, hardware, and services for communities and customers worldwide. Bitmain offers some of the most industry-defining technologies to support financial tech and help support a global, decentralized network to grow, connect, and benefit everyone involves. While the company is headquartered in Beijing, it also boasts research centers, product centers, and offices globally in spots like Singapore, Zug, Silicon Valley, Hong Kong, Tel Aviv, and Amsterdam.

 

The Plans for a Texas Data Center

 

Based on statements released by Bitmain, the facility was expected to begin operating in 2019 and would be operational on a complete scale within two years. The data center was slated to be placed in an abandoned aluminum smelter plant and to bring hundreds of new jobs the struggling area. This was intended to create more disposable income in the area to boost property and business values throughout the county.

 

Bitmain also noted that it would be partnering with various educational institutions and schools in the county to offer residents and students the skills needed to choose a career at the facility. The company nearly immediately announced recruitment needs for positions like sales associates, engineers, senior management, research associates, finance associates, and technicians.

 

New Updates on the Blockchain Data Center

 

Unfortunately, less than a year after this facility was announced by Bitmain, development of what was known as “the largest data center in the world” has been halted in Rockdale, Texas. This is a serious blow to the city which has been hit hard following the closure of its coal mine more than a decade ago. The unemployment rate in the city at one point hit 12.5% during the recession.

 

The last year was not great for cryptocurrency mining hosts and many Bitcoin miners who got involved in 2017 stepped away in 2018 as the cost of mining Bitcoin became overly expensive. Bitmain started a hiring freeze in November 2018 and early in 2019 explained that the facility would no longer be opened. This happened after the job fair planned for the facility was delayed time and time again.

 

What Might Be Coming Next

 

While Bitmain will not be coming to this Texas community, it remains to be seen if other facilities will be closed or employees will lose their jobs. As for now, the company seems to be doing well despite any of its struggles and it will be interesting to see what comes next.