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

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

by Serge Shlykov

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The Lone Star State of Texas is solidifying its role as a hub for bitcoin and blockchain mining. Two major bitcoin mining companies opened in Texas this week. Riot Blockchain has purchased a mining site in Rockdale, and bitcoin mining company Blockcap has announced the opening of its headquarters in Austin.

Blockchain establishes headquarters in Austin, former Texas governor Rick Perry welcomesMining Company

The 9th. In April 2021, Blockcap announced that it would establish its headquarters in Austin, TX, joining a number of companies in the Lone Star State. Recently, Blockcap announced that it had raised over $75 million and identified a number of key acquisitions of BTC mining assets. At the announcement, former Texas Governor Rick Perry praised Blockcap for bringing innovation to Texas.

The state of Texas applauds Blockcap and its decision to open its headquarters in our capital city, further proof that we have become a leader in emerging industries like blockchain, Perry said. As Blockcap joins Tesla and a number of other innovative companies here, I’m even more excited to see what the future holds for our state, our thriving industries and, most importantly, our people.

In addition, the company noted that the United States currently ranks second in the world in hashrate. The leading country in mining, both for hashish and production, is currently China. Blockcap CEO and founder Darin Feinstein says the company is looking forward to opening in Texas.

Austin is our home base from which we will fulfill our mission and bring this great city closer to the center of America’s technology ecosystem. We also see the city as an ideal location to further expand our business as we grow domestically and internationally, Feinstein said.

Blockchain riot buys Whinstone from Northern Data AG for $650 million

In addition, Riot Blockchain has just announced the acquisition of a $650 million mining company in Rockdale, Texas. The company has been awarded the Whinstone Inc project, which will start in 2019 and is expected to become one of the largest mining centres in the world. The $650 million deal is funded by a combination of cash and shares of Riot Blockchain. Northern Data AG sold its data centre business to Riot, allowing Northern Data to concentrate on its six remaining sites.

Northern Data has succeeded in creating a versatile multi-site network with efficient HPC applications focused on sustainability through secure access to renewable energy, said Arush Tillainathan, CEO of Northern Data. The proceeds of the transaction will allow us to significantly accelerate our expansion and strengthen our focus on high-performance HPC services.

Upon completion of the transaction, Northern Data AG will own 12% of the total outstanding common shares of Riot Blockchain, or approximately 11.8 million shares. Blockcap and Riot Blockchain become neighbors of Layer1 and Bitmain in Texas.

What are your thoughts on Blockcap’s move to Austin and Riot Blockchain’s purchase of Whinstone Inc? Let us know what you think in the comments below.

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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.

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