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Bitcoin Mining Giant Bitmain Launches Data Center In Washington Despite Crypto Crash

Bitcoin Mining Giant Bitmain Launches Data Center in Washington Despite Crypto Crash

Reading Time: 2 minutes by on November 21, 2018 Bitcoin, Business, News

World’s leading bitcoin mining hardware manufacturer, Bitmain has launched a new $20 million data center for cryptocurrency mining in the East Wenatchee area of Washington, United States, actively expanding its global digital assets mining operations despite the ongoing bitcoin price slump, reported  NW news network on November 18, 2018.  

Bitmain Still Bullish Despite Crypto Bloodbath

Bitmain Technologies Ltd.,  China-based bitcoin mining equipment maker, has opened a new $20 million cryptocurrency mining rig in the East Wenatchee area of Washington, United States.

At a time when the entire cryptocurrency market is passing through a depressing bearish trend, Bitmain’s Director of Operations for North America, Jeff Stearns has made it clear that the slump in the price of bitcoin and altcoins is a massive opportunity for the firm to spread its tentacles across more jurisdictions.

We’re really setting our sights on the long term,” declared Stearns, adding “I would say in this bear market situation, that at this point, that really represents an opportunity for a firm like Bitmain.

Despite Bitmain’s triumph in Washington, it’s worth noting that many areas around the state have raised their voices against bitcoin mining operations.

As reported  by BTCManager earlier in April 2018, Washington Chelan County Public Utility District (PUD)  announced it would no longer allow new bitcoin mining businesses to operate in the area, until it reviews its existing low electricity tariffs and formulate new policies to govern the power intensive crypto mining activities.

Interestingly, this November, the Chelan County PUD held a public information meeting where it made clear to bitcoin miners in the area that they will be required to pay more for electricity than other users, as their business consumes more power.

Douglas County Accepts Bitmain, More Jobs to Be Created

Blessed with a mild climate and low-cost hydropower, Douglas County authorities have acknowledged the fact that crypto mining operations may be power intensive.

However, the officials also see a lot of positives in welcoming Bitmain and other crypto-linked businesses, and more data centers are currently under construction in the region.

Commenting on the new development, Port of Douglas County executive, Lisa Parks touted Bitmain’s entry into the area as “a huge get,” adding that new technologies always make some people uncomfortable but the presence of blockchain-based firms in Douglas County could help complement and “advance other industries in the community.”

The new Bitmain $20 million data center is made up of six buildings, packed with thousands of computers and the firm says it’s looking to employ about 20 staff to run the outfit.

 

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