China’s Bitmain Given A Green Light For Setting Up US Mining Facility

Bitmain is the Chinese cryptocurrency mining company that has been trying hard to set up a blockchain facility in Western Walla Walla County (United States). After weeks and months of talks and waiting time, the mining company got the official approval. Currently, the decision is in complete agreement of the three commissioners involved in the situation.

After being in talks with the officials for buying a land in the port of Walla Walla. The co-founder of the company, Jihan Wu, was listed as the main and governing person of the company – with Jeff Stearns as the director of operations. The initial deal included a lease of more than 40 acres of land, resulting in 15 to 20 full-time jobs.

What’s most important, however, is the fact that if Ant Creek (the company selling the land) accepts the offer, the lease will run until the end of 2018 after which the company can choose to purchase the land. This would result in a monthly cost of $4,701.67 for Bitmain – and $150,000 if they eventually decide to buy the land.

This decision is now made a public hearing. Currently, there are a lot of residents that don’t like the idea of cryptocurrency mining and ones who think that a project like this would only benefit a certain amount of people and not everyone residing in the country. Also, there are many people speaking against Bitcoin mining – but also some that try to soften the idea claiming that the company is more focused on “the blockchain softening the idea”.

Currently, no one knows if the lease is going to officialize. However, what’s more than certain is that talks like these – and official legal approvals – are more and more present around the globe.