Bitmain, located in most of the former Alcoa smelter, opened its doors Friday to a group of invited county business and civic leaders. They discovered the cryptocurrency-mining venture is humming right along.
That’s literally. Company corporate officials, and local Bitmain Project Manager Clint Brown, spoke in front of the whirring buzz of 10,068 “antminers,” computer-like machines whose job is to chase complex mathematical puzzles in cyberspace and earn “Bitcoins,” a high-tech cryptocurrency which is seen as the wave of the future.
The event, tagged a “grand opening,” was the first time photos were allowed at the complex. Bill Zhu, Bitmain CEO, welcomed the group and said the local operation, Bitmain’s second in the United States, has been officially christened “Bitmain Dory Creek.”
“GOOD THINGS”—
Currently, one line is operating, using 25 megawatts of energy. Availability of an existing electricity interface, such as exists at the former aluminum smelter, is what attracted the cryptocurrency mining venture.
““We are going to see good things in the future come out of this,” Zhu said.
During the tour, conducted by Zhu, Director of Integrated Solutions Tao Wu and International Public Relations Director Mathaniel Yu, Bitmain officials noted that more advanced Antminers are being awaited to populate the second line, also 25 megawatts.
“Those are expected to arrive in early November.
“Our plan is to grow to 300-plus megawatts over the next two years,” Brown, a Rockdale native and 1984 graduate of Rockdale High School, said.
If that comes to pass it would make the local Bitmain facility the world’s largest for Bitcoin mining, Bitmain’s Rachael DeFoe told The Reporter.
EMPLOYEES—Bitmain officials said about 30-40 persons have been working at the facility but the final number of jobs available hasn’t yet been determined.
Officials termed the situation “still learning” the dynamics of Bitmain Dory Creek, including how many employees will be needed.
Company officials told The Reporter, however, that about 7-8 permanent technicians would be required per line.
Bitmain is working with the Rockdale Workforce Solutions Office on job applications and training.
Milam County Judge Steve Young, who participated in the brief ceremony, has said he believes the county is on the cutting edge of high-tech and that the county’s school districts are cooperating in providing training for new positions.
RIBBON-CUTTING—
Following the ceremony a ribbon-cutting was held with the Rockdale Chamber of Commerce officiating.
The Bitmain officials emphasized the positive nature of the occasion, noting that since the Rockdale venture became public last year a certain amount of confusion had existed.
Over the winter of 2018-19 some reports indicated that Bitmain was abandoning its plans to open a cryptocurrency center in the former Alcoa center.
Bitmain officials during that time strongly denied that was the case and told The Reporter segments of the press, and public, had misunderstood the situation, due to company wide cutbacks as the price of Bitcoin fell.
The Reporter was part of a tour of the facility in March, before the former potline was populated with Antminers.
Work did continue at the smelter and Bitmain actually began its cryptocurrency mining in July.
The price of Bitcoin has strongly rebounded since the winter of 2018-19 and continues to fluctuate,
One Bitcoin was worth $3,254 (American dollars) on Dec. 15.
By June 26 of this year that price had shot up to $12,291.
On Monday (Oct. 21) the price of one Bitcoin was $8,211.
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