POTUS may be hating Chinese companies as much as possible, but Chinese companies are not leaving the US easily. In fact, some of them are setting up their bases right in the center of US politics. Recently crypto mining giant Bitmain has also done a similar act by setting up a mining facility in the state of Washington.
That’s right. The new facility is located in East Wenatchee, about 240 kms east of Seattle. It has got 8,100 miners and 12 megawatts of power capacity, and it has been designed carefully to optimize the efficiency of mining operations as much as possible. Jeff Stearns, Director of Bitmain’s North American operations, opened it at a small ceremony of about 50 attendees. He said that despite the current downtrend Bitmain is focused on the long-term and won’t let its long-term plans be affected by the ongoing sell-off:
“We’re really focused on the long term. I would say in this bear market situation, and I would call it that at this point in time, that really represents opportunity for a company such as ourselves.”
Port of Douglas County Executive Director Lisa Parks, and Business Development Manager to Washington State Department of Commerce Mr. Evan Wendlandt were also present and spoke at the opening ceremony. Ms. Parks said:
“If we’re uniquely situated to appeal to that industry, then that bodes well for us to be part of the foundation of the technology, and not just a consumer of it.”
Mr. Wendlandt also described the establishment of this new facility as “a big win” for the region, calling Bitmain “a very powerful company that can diversify the technology footprint of Washington”.
Interestingly, the welcome being given to crypto mining companies like Bitmain in Douglas county contrasts with the treatment being given to them in nearby counties like Grant County and City of Chelan. These counties voted to ban cryptocurrency operations last month. Therefore, it will be really interesting to see how many more such facilities are opened in Douglas County in the coming days.