Bitmain Technologies, a Beijing-based crypto mining giant, and device manufacturer is quietly building a facility in the US, reliable public documents have revealed. The facility known as Ant Creek is being built in Washington near Port Walla Walla.
Registration documents found online reveal that Ant Creek LLC is a company with its base in Tumwater, Washington. The active firm acquired its LLC status on the 28th of June, 2017. The documents also show that the record ownership of the for-profit Tumwater firm is filed under the name of Jihan Wu, Bitmain’s co-founder. A local newspaper called the Union-Bulletin has also published a story saying Ant Creek is developing a blockchain facility in Washington.
Facility expected to create jobs and raise revenue
Patrick Reay, the Port of Walla Walla’s Executive Director, says that the administration of the port has been working together with Ant Creek for approximately six months now to build the blockchain facility. Ant Creek is considering leasing land that is between 2 industrial parks later in 2018 with an option of purchasing up to 40 acres.
In an interview, Reay explained that the lease is going to cost about USD 4,166 each month and it will include a state leasehold tax of USD 535. Ant Creek will further help in developing some property requirements such as water lines, and storm drainage according to Walla Walla County’s building statutes. The Director pointed out that the major aims of Walla Walla County “are creating jobs and generating accessed value.”
The port’s bureaucrats and local news sources estimate that the crypto mining project will produce between $7-10 million private revenues and 15 to 20 full-time jobs.
Washing has over the past few months seen an upsurge of interests from miners largely because of its cheaper electricity rates. Online media reports recently highlighted Wenatchee, a small town in Washington that’s just 3 hours from Seattle, which is becoming an epicenter for crypto mining. The town is allegedly home to more than a dozen miners at present, and more than 75 others have inquired with Steve Wright, head of the town’s power utility. Chelan County, Washington, is also considering welcoming crypto mining operations.
The Union-Bulletin has, however, reported that the crypto boom which has pervaded throughout most rural Washington is slowing down in certain areas as towns assess huge electricity demands posed by facilities. Reay said that this is not among the concerns of the port’s administration since the city isn’t an electric purveyor.
Bitmain Technologies is reportedly also setting up strategic facilities in Switzerland and Canada this year. A report released in February 2018 by Berstein, an investment research company, suggests that the Chinese crypto mining company holds 70-80 percent of the crypto market for ASIC cards and BTC miners.
Earlier in January 2018, there were media reports that Bitmain is planning to launch new crypto mining operations overseas due to a ban on crypto exchanges and the surging possibility of stringent regulations for crypto miners in China. The company is yet to confirm its involvement in the building of the Washington blockchain facility.
