New Hope For Texas City's Bitmine
After grabbing headlines last August by announcing it would build the country’s largest bitcoin mine in Rockdale, Texas, the Chinese cryptocurrency company, Bitmain, suspended operations six months later and let go of most of its staff.
In that six-month period the price of Bitcoin, the virtual currency that is one of the company’s chief commodities, had plummeted by more than half. Bitmain reportedly shed staff globally and shut down a facility in Israel.
Bitcoin are created by slow, computer-intensive processes known as mining.
But now there may be another reversal in Rockdale’s hopes to become a cryptocurrency player. Milam County officials said the company will continue the project.
Read more: https://www.tpr.org/post/new-hope-texas-citys-bitmine