Bitmain Builds The Largest BTC Mine In Rural Texas – Why?

The crypto mining giant Bitmain builds the largest BTC mine in rural Texas, outside of the town of Rockdale which is in the central – Texas countryside as we are reading further in the Bitcoin news now.

The new mine will be set outside of the town of Rockdale and the people of the town gathered to celebrate the opening of the new bitcoin-mining plant that was constructed by the Beijing-based Bitmain which is the biggest manufacturer of computers that are especially designed to mine cryptocurrency. The country judge Steve Young was so excited that he even took hundreds of photos. Tao Wu, the Arizona-based Bitmain executive explained the local residents and journalists about the new center while he was shouting over the thousands of cooling fans:

 “There’s going to be jobs, there’s going to be revenue.  We’re going to see great things coming in the future.”

Texas is long known for its bountiful commodities and is now drawing attention to a new breed of speculators in search of Bitcoin which was invented just a decade ago. Bitmain says its operation in the state with very cheap electricity and plenty of space, represents an alluring opportunity especially since the prices for the cryptocurrency doubled this year.

Back in 2018, the company made a deal with the local officials to set up a bank of computers inside the Alcoa plant in order to mine bitcoin. There were more than a thousand processing units that ran 24 hours a day sending trillions of numbers per second via the internet in order to mine Bitcoin. The configuration was roughly the height and width of a railroad boxcar and length of three football fields.

Bitmain declined to disclose the cost that was necessary to build the new facility or the total bitcoin that it will produce. The company did reveal that the plant during the initial phase will use 25 megawatts of electricity which is the same amount as about 20.000 average US households. Bitmain builds a mining center that will be able to use 50 megawatts and that capacity will eventually increase to 300. The project was initiated last year but it was postponed after the bitcoin prices tumbled down by more than 75 percent.