Crypto News

Texas Bitcoin Mining Swells- Riot Purchases Mining Site for $650M, Blockcap Establishes HQ in Austin – Mining Bitcoin News

The Lone Star State of Texas is solidifying its position as a bitcoin mining and blockchain hub. This week two main bitcoin mining corporations established operations in Texas. The company Riot Blockchain bought a mining web site in Rockdale and the bitcoin mining agency Blockcap introduced establishing headquarters in Austin.

Blockcap Sets Up Headquarters in Austin, Former Texas Governor Rick Perry Welcomes the Mining Company

On April 9, 2021, the agency Blockcap introduced that it was establishing headquarters in Austin Texas, and the company will be a part of quite a lot of corporations that reside in the Lone Star State. Just just lately, Blockcap introduced that the company raised over $75 million and revealed quite a lot of large-scale acquisitions of BTC mining rigs. During the announcement, the previous governor of Texas, Rick Perry welcomed Blockcap for bringing innovation to Texas.

“The State of Texas welcomes Blockcap and its decision to establish its headquarters in our capital, which is yet more evidence that we have become the premier location for forward-looking industries like blockchain,” Perry defined. “With Blockcap now joining Tesla and a whole host of other innovative companies here, I’m even more excited for what the future has in store for our state, our flourishing industries and, most of all, our people.”

Moreover, the company has famous that the U.S. presently ranks second worldwide so far as hashrate is anxious. The main nation in the mining business for each hashpower and manufacturing is presently China. Blockcap’s government chairman and founder, Darin Feinstein says the company seems to be ahead to organising in Texas.

“Austin is our home base from which we will pursue our mission and bring this great city closer to the center of the United States’ blockchain technology ecosystem. We also see the city as an ideal location from which to continue expanding our operations as we grow at both national and international levels,” Feinstein mentioned.

Riot Blockchain Buys Whinstone from Northern Data AG for $650 Million

Furthermore, the company Riot Blockchain simply introduced the acquisition of a mining web site in Rockdale, Texas for $650 million. The company has obtained Whinstone Inc., a project began in 2019 and goals to be one of many largest mining facilities worldwide. The deal for the $650 million stems from a mixture of money and Riot Blockchain shares. Northern Data AG bought the information heart operations to Riot so Northern Data can deal with its remaining six websites.

“Northern Data has been able to create a versatile multi-site network of efficient HPC capabilities with an industry-leading sustainability focus by offering secured access to renewable energy sources,” Northern Data’s CEO Aroosh Thillainathan detailed. With the proceeds from the transaction, we are able to speed up our growth considerably and reinforce the deal with value-accretive HPC providers.”

After closing the deal, Northern Data AG will personal 12% of the whole excellent frequent stock of Riot Blockchain which is roughly 11.8 million shares. Both Blockcap and Riot Blockchain can be neighboring the bitcoin miners Layer1 and Bitmain in Texas as effectively.

What do you consider Blockcap’s transfer to Austin and Riot Blockchain buying Whinstone Inc.? Let us know what you consider this topic in the feedback part under.

Tags in this story
Aroosh Thillainathan, Austin, Bitcoin mining, Bitmain, Blockcap, BTC Mining, China, Darin Feinstein, Hashpower, Layer1, Lone Star State, mining, Northern Data AG, Riot, Riot Blockchain, rockdale, Texas, US Bitcoin Mining, US Hashpower, Whinstone Inc.

Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational functions solely. It shouldn’t be a direct provide or solicitation of a proposal to purchase or promote, or a advice or endorsement of any merchandise, providers, or corporations. Bitcoin.com doesn’t present funding, tax, authorized, or accounting recommendation. Neither the company nor the writer is accountable, instantly or not directly, for any injury or loss induced or alleged to be attributable to or in reference to the usage of or reliance on any content material, items or providers talked about in this text.

Back to top button