Bitmain Pause Operation in Texas, Fires Employees
Based on a recent report, Bitmain Technologies has stopped all forms of operations in Rockdale, Texas U.S. Bitmain which recently began the construction of a new facility at a former
Poor Market Conditions
The poor market condition has been cited as the main cause of pausing its operation in the region. The Rockdale facility which had 15 employees now has five employees guarding the property. Announcing the development is Steve Young, a county judge. According to Steve, the company has spent millions of dollar renovating the region. It was also reported that more than 7000 mining hardware is currently installed in the facility.
Steve further registered his displeasure in the latest development through a statement which reads:
“I’m really disappointed because we had advertised this, we had waited for this, we had wanted this and we had welcomed this,” “This was huge, we need some positive news here and we need some jobs here — We need a tax base here and this was a step in the right direction.” Steve Continued.
Although Bitmain officials have refused to give any comments regarding its current status in Rockdale, it was reported that the staff downsizing is to take place across the entire exchange. This was explained in a recent report which reads: “The right-sized team at Rockdale now has the expertise to re-start the project at small scale anytime. Bitmain would like to ramp up the site at a slower pace and scale based on market conditions,”
Rockdale City Manager is Very Optimistic
As regards Bitmain pausing operations in the city, Chris Whittaker, Rockdale city manager made it known in a recent interview that, he is optimistic that the Chinese mining manufacturer will remain in Rockdale.
He stated that: “I am optimistic that maybe [Bitmain] is reorganizing — They haven’t totally shut down and all those things are encouraging,”
He further said that: “We’re optimistic that future companies are coming to the Alcoa property — This is a valuable asset to the county and it will remain and some company will come here and take advantage of this cheap source of power.”
