The Lone Star State of Texas is cementing its role as a bitcoin mining and blockchain hub. Two major bitcoin mining companies started operations in Texas this week. Riot Blockchain bought a mining site in Rockdale and bitcoin mining company Blockcap announced the establishment of a headquarters in Austin.

Blockcap sets up its headquarters in Austin. Former Texas Governor Rick Perry welcomes the mining company

On April 9, 2021, Blockcap announced that it would establish its headquarters in Austin, Texas. The company will join a number of companies based in the Lone Star State. Just recently, Blockcap announced that it had raised over $ 75 million and announced a series of large-scale acquisitions of BTC mining equipment. During the announcement, former Texas Governor Rick Perry welcomed Blockcap for bringing innovation to Texas.

“The state of Texas welcomes Blockcap and its decision to have its headquarters in our capital city. This is further proof that we have become the premier location for forward-thinking industries like blockchain,” said Perry. “Now that Blockcap is owned by Tesla and a whole host of other innovative companies, I’m even more excited about what the future holds for our state, our thriving industries, and most importantly, our people.”

Additionally, the company has found that the US is currently number two in the world for hashrate. The leading country in the mining industry for both hashpower and manufacturing is currently China. Darin Feinstein, executive chairman and founder of Blockcap, says the company looks forward to settling in Texas.

“Austin is our home base from which we will pursue our mission of bringing this great city closer to the center of the US blockchain technology ecosystem. We also see the city as an ideal location to further expand our activities, as we are growing on both a national and an international level, ”said Feinstein.

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

In addition, Riot Blockchain has just announced the acquisition of a mining site in Rockdale, Texas for $ 650 million. The company has received Whinstone Inc., a project that started in 2019 and is expected to be one of the largest mining centers in the world. The $ 650 million deal resulted from a mix of cash and riot blockchain stocks. Northern Data AG has sold the operation of the data center to Riot so that Northern Data can concentrate on the remaining six locations.

“Northern Data was able to create a diverse network of efficient, multi-site HPC functions with an industry leading sustainability focus by providing secure access to renewable energy sources,” said Aroosh Thillainathan, CEO of Northern Data. With the proceeds from the transaction, we can significantly accelerate our expansion and increase the focus on value-adding HPC services. “

Upon completion of the transaction, Northern Data AG will own 12% of the total outstanding common stock of Riot Blockchain, which equates to approximately 11.8 million shares. Both Blockcap and Riot Blockchain will also be located in Texas alongside the Bitcoin miners Layer1 and Bitmain.

What do you think of Blockcap’s move to Austin and Riot Blockchain on buying Whinstone Inc. Let us know what you think on this matter in the comments section below.

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Aroosh Thillainathan, Austin, Bitcoin Mining, Bitmain, Blockcap, BTC Mining, China, Darin Feinstein, Hashpower, Layer 1, Lone Star State, Mining, Northern Data AG, Riot, Riot Blockchain, Rockdale, Texas, US Bitcoin Mining, US Hashpower, Whinstone Inc.

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