Crypto Mining Giant Bitmain Launches Subsidiary in Washington State

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Chinese crypto mining giant Bitmain has recently expanded operations to the state of Washington as it unveils a $20 million complex in Douglas County, NW News Network reported Tuesday.

Situated near the Wenatchee airport, Bitmain’s new establishment consists of six infrastructures which house thousands of computers used to facilitate Bitcoin ledger transactions.

According to the firm, the expansion initiative was largely driven by the Pacific Northwest region’s inexpensive hydro-power that could significantly minimize operational cost, as well as its cool climate which could stabilize the system’s temperature during mining operations.

As it stands, Washington has so far embraced a crypto-friendly stance, as opposed to other jurisdictions that have previously enforced more stringent sanctions on crypto-mining operations.

As Port of Douglas County executive director Lisa Parks stated in the report:

“Anytime there is a new industry, it is going to be something that makes people uncomfortable. It is an industry that consumes a lot of power. From our perspective though, we were looking at it as a way in which we can complement and advance our other industries in our community.”

In addition, Parks also hopes that the launch of Bitmain’s new complex will also lend to the local residents’ development of technical skills in blockchain technology, allowing them to take part in the foundation of the DLT industry and not just remain as mere consumers.

Washington State Department of Commerce business development manager Evan Wendlandt views Bitmain’s expansion initiative as a mutually beneficial move for both the crypto mining company and the country.

Following on Bitmain’s footsteps, Salido enterprise has also recently disclosed plans of opening a 20-megawatt cryptocurrency mining infrastructure in 2019, while a number of other data centers will also be launched near Apple orchards in an effort to serve a number of firms, including VMWare, Mobile, and Costco.

In addition to the newly established complex, Bitmain has also invested in a number of properties within the Washington state, intended to house more centers in the future.

Earlier in July, Bitmain has also signed a short-term property lease with the Port of Walla Walla, sparking a significant amount of controversy largely from its residents who were apprehensive of the potential risks entailed to crypto mining.

As op-ed and professor emeritus in the Walla Walla Union-Bulletin newspaper Bob Carson stated at the time:

“Cryptocurrency mining, which generates few jobs, is a dangerous business model that makes a product of highly questionable and unpredictable value and contributes nothing for the good of the Earth or humanity.”