Bitcoin
$ 48,367
Ethereum
$ 1,518.9
Litecoin
$ 170.80
okex ads
bitmain mining farm

Bitmain Launches 50MW Crypto Mining Farm, Plans to Expand to 300MW Soon

Chinese mining hardware giant Bitmain has launched a 50MW (megawatt) cryptocurrency mining farm in Rockdale, Texas.

Join the fastest growing network on Telegram

Announcing the news on Monday, Bitmain said the farm can expand to a capacity of over 300MW, making it “the world’s largest for bitcoin mining.” It is Bitmain’s third cryptocurrency mining project in the U.S., according to the announcement.

For building and operating the Texas facility, Bitmain has partnered with Rockdale Municipal Development District and Canadian tech firm DMG Blockchain Solutions. The first phase of the farm – 25MW facility on a 33,000-acre land owned by aluminum producer Alcoa – began last year, per the announcement. Bitmain said it will continue its construction to build the 50MW facility, and then later expand it over 300MW.

DMG will manage and operate the mining facility in Texas. Bitmain will purchase energy directly from the Electric Reliability Council of Texas (ERCOT), which operates the electric grid in Rockdale, per the announcement.

“The stable and efficient energy resources in Texas are fundamental to the inevitable scale of growth for the cryptocurrency mining industry,” said Clinton Brown, Bitmain’s lead project manager for Rockdale.

Just last week, Digital Currency Group (DCG)-backed firm Layer1 raised $50 million to build mining chips and to run its own electricity substations in Texas. To that end, the firm bought a dozen acres of land in the city.

Related Posts

Leave a Reply

Newsletter

Subscribe To Newsletter

For updates and exclusive offers, enter your e-mail below.

Popular Posts

Asia’s Cryptocurrency Landscape the Most Active, Most Populous Region ‘Has an Outsize Role’
March 1, 2021By
Investors Can Put 1% of Their Portfolios in Bitcoin Despite Calling It a Poor Hedge – JPMorgan
March 1, 2021By
Just In : MicroStrategy Acquires Additional $15 Million in Bitcoin at Average Price of $45,710
March 1, 2021By

Advertisement

Video Posts

In
How AI And Blockchain Can Augment Human Ability To Innovate
March 1, 20210
In
The State Of Bitcoin And Alt Coins
February 27, 20210

Crypto Stats


CryptoCurrencyUSDChange 1hChange 24hChange 7d
Bitcoin48,367 0.32 % 10.22 % 16.13 %
Ethereum1,518.9 0.17 % 11.39 % 21.77 %
Cardano1.290 0.12 % 2.66 % 16.35 %
Binance Coin246.10 1.03 % 23.26 % 16.75 %
Tether1.000 0.09 % 0.50 % 0.17 %
Polkadot34.09 1.03 % 5.31 % 14.17 %
XRP0.4351 0.01 % 6.64 % 21.03 %
Litecoin170.80 0.45 % 6.68 % 25.06 %
Chainlink26.40 0.84 % 9.88 % 22.93 %
Stellar0.4126 0.48 % 3.59 % 17.35 %