22 October 2019 10:51, UTC

Mining giant Bitmain has officially launched a new facility in Rockdale, Texas. The facility has been under construction since the end of 2018 and currently covers 33,000 acres.

The farm is to handle an energy capacity at 50 megawatts (MW). At the same time, Bitmain says it seeks to expand the station's capabilities to cover 300 MW. This would make it the world's largest Bitcoin mining facility.

Bitmain launched the facility in Texas and it provoked a lot of rumors when the company first announced its intentions. Industry experts wondered if the company is preparing to “escape” from China in case the country completely bans crypto mining in the near future. The company first announced plans to open up in Texas more than a year ago. The move was supposed to create more than 400 jobs in the region and channel more than $500 million into the local economy.

Initially, the object was to become fully functional by the beginning of 2019.However, crypto winter, which hit the industry in 2018, forced Bitmain to stop implementing lots of plans, including the one in Texas. Now, Bitmain is looking for opportunities to re-launch many of its previously suspended projects.

Found a mistake? Select the text and press CTRL+ENTER

Share:

Read the best crypto news analysis here! bitnewstoday.com Bitcoin, investments, regulation and other cryptocurrencies