China’s Bitmain Given The Green Light To Mine Bitcoin

Chinese cryptocurrency mining company, Bitmain has received approval to create a blockchain facility in Western Walla County, a county in the U.S. state of Washington.

According to sources from local newspaper Union-Bulletin, the stance was in line with the three commissioners that were part of the process.

As reported earlier in March, the Ant Creek was in dialogue with the officials to purchase land in the port off Walla Walla.

Named as the governing person of the company was Jihan Wu, Bitmain’s co-founder, with Jeff Stearns as the director of operations.

At the initial time of the deal, it was agreed that 40 acres of land will be allocated which would result in 15-20 full-time jobs. Yet, during the course of the situation, several changes were made. Presently, the firm is getting about 10 acres land and the chance to bring out the county’s full technological potential.

The lease will run throughout 2018 if Ant Creek accepts the offer, after which, the firm the chance to buy the lad if they wish. A monthly payment will be made by the firm of $4,707.67 and if the land is purchased, about $150,000 will be paid.

Furthermore, $2.5 million will be used as an expense to construct a roadway given that the land is presently inaccessible.

The port will take care of access improvement design, and drinkable and fire protection water expansion cost of $140,000 and $300,000 individually. But as of now, there is to a response form Stearns regarding the acceptance or denial of the altered deal yet.

The stance was announced at a public hearing, in the presence of several residents who were against the idea of cryptocurrency mining.

In their view, giving permission to such a project would only gain unknown people while making use of their land’s electricity.

Stearns noted that Ant Creek was “both a blockchain and artificial-intelligence company.”