Browse By

Chinese Crypto Mining Giant Bitmain Developing Facilities In US, Document Suggests

The major Chinese cryptocurrency mining hardware manufacturer Bitmain is reportedly involved in the development of Ant Creek mining centers in the US.

According to the business data website companies-number.com, Bitmain’s co-founder Jihan Wu is the sole “governing person” of the Ant Creek LLC in Tumwater, Washington.

According to local newspaper the Union Bulletin, Ant Creek is building a “blockchain facility” at the Port of Walla Walla, Washington. According to Port Executive Director Patrick Reay, the Port administration has been working with Ant Creek for about six months to develop the Blockchain facility. If the contract is approved, Ant Creek will lease land by the end of 2018 with an option to purchase 40 acres.

Reay said that the main goals of Walla Walla County are “to generate assessed value and create jobs.” Port officials estimate that the alleged Bitcoin-mining facility will bring in $7-10 mln of private investment, and 15-20 full-time jobs.

As stated in the Union Bulletin, the Blockchain boom that has permeated throughout rural Washington has slowed down in some areas, as small towns take time to assess the massive electricity demands required by the facilities. Reay said this isn’t a concern for the Port of Walla Walla, as the city is not an electric purveyor.

At press time, Bitmain has not confirmed its involvement in the Ant Creek project.

Investment research firm Bernstein released a report in late February 2018 saying that Bitmain holds 70 to 80 percent of the market for Bitcoin miners and ASIC cards.

In January, Cointelegraph reported that Bitmain is considering launching new mining operations abroad following a ban on cryptocurrency exchanges and the increasing possibility of power regulations for miners in China. Bitmain has been operating mining facilities in Canada since 2016.

Leave a Reply

Your email address will not be published. Required fields are marked *