Bitcoin ASIC mining behemoth Bitmain launches a 50 MW mining plant in Texas, United States


  • Bitmain decided on Texas due to its stable and efficient electricity supply.
  • The mining and software manufacturing giant plans to build the world’s largest Bitcoin mining facility.

Bitmain, the leading Application Specific Integrated Circuit [ASIC] manufacturer has started a 50-megawatt mining plant in Rockdale, Texas. The mining plant has been built within the Rockdale Municipal Development District [MDD] and DMG.

The new development falls in line with Bitmain’s plan to expand its global presence. The firm as attracted to Texas due to the stable and efficient energy resources.

“Bitmain completes construction of 50MW mining facility in #Rockdale #Texas. The project is set to create jobs in the area and plans to work with the local district to provide education and training on blockchain technology and data center operations,” Bitmain said via tweet.

Bitmain desires to build the largest Bitcoin mining facility in the world. The construction of the 50 MW facility is just the beginning as Bitmain plans to build to a whopping 300 MW mining facility. The provider of electricity for the plant is the Electric Reliability Council of Texas [ERCOT].

 

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.

Cryptos feed

Latest Crypto News


Latest Crypto News & Analysis

Editors’ Picks

Three reasons why the cryptocurrency market could be about to suffer one of the nastiest corrections in years

The cryptocurrency market seems to be stronger than ever and has seen a $250 billion increase in its market capitalization since the beginning of October. 

More Cryptocurrencies News

Yearn.Finance Price Forecast: YFI’s next buying opportunity may come at $18,000

YFI had an astounding 290% bull rally that started on November 5 and peaked on November 20 at $29,890. The digital asset seems to be under consolidation, and many indicators are turning bearish in the past ...

More Yearn.finance News

XTZ attempts to breakout but technicals point to a retracement first

Tezos is up by 45% in the past week as it was one of the few cryptos left to go up. Bulls face a critical resistance level at $3, and some technical indicators suggest that investors should sell in ...

More Tezos News

Traders are buying XRP like crazy ahead of Flare Network’s airdrop

Ripple's XRP is changing hands at $0.64, having gained over 6% on a day-to-day basis and over 110% on a weekly basis. The coin hit the multi-year high at $0.7824 on November 24 but failed to hold the ground ...

More Ripple News

BEST CRYPTO BROKERS/EXCHANGES




Bitcoin Weekly Forecast: BTC makes new yearly highs while its network activity looks worrisome

Bitcoin has lived through the best week since February 2018. The pioneer digital currency price gained over $2,000 in less than seven days. The bullish momentum allowed it to reach a new multi-year high of nearly $18,800, marking November 2020 one of the strongest bullish months ever. 

Read the weekly forecast

BTC

ETH

XRP