China’s Mining Giant Bitmain Reaches out to US
March 16, 2018
Major Chinese mining company Bitmain is now seeking ways for starting its activity in the US. The company aims at opening branches in Washington.
As the article in the local Union-Bulletin publication says, the Washington’s port will be leasing land starting from early 2019, the company will be allowed to acquire up to 40 acres. The port’s representatives have also reported, this may generate from 7 to 10 mln dollars of private investments and about 15-20 full time positions.
Last year Bitmain saw an unprecedented profits. In 2017 Bitmain was estimated to gain 3-4 bln dollars going up against GPU-giant NVIDIA that made $3 bln for the same time span.
The Bitmain extension is caused by the recent cryptocurrency crackdown by the Chinese government. Early this year Bitmain opened its new affiliated facility in Switzerland. The company is most likely to come to the international level so the bans imposed won’t affect its activity.