Bitcoin Mining Giant Bitmain Sets Up Secret US Subsidiary

Bitcoin Mining Giant Bitmain Sets Up Secret US Subsidiary

Cryptocurrency mining specialist Bitmain may be quietly developing new facilities in America's Pacific Northwest, documents suggest.

While nothing has been stated publicly by Bitmain over the project, the bitcoin miner producer appears be connected to a new company called Ant Creek, LLC, that, reports say, is trying to build mining facilities in Washington state.

According to business data site companies-number.com, Bitmain's co-founder, Jihan Wu, is the sole governing person behind Ant Creek, which was founded on June 28, 2017 and is registered as an active for-profit entity in the state.

While the company does not have a listed address, the Walla Walla Union-Bulletin reports that the Port of Walla Walla, a city in Washington, is considering a land-use agreement with Ant Creek. Under the terms of the agreement, Ant Creek would lease land from the beginning of 2019, with an option to purchase up to 40 acres.

If approved, the Union-Bulletin reports, this land would be used to develop and operate a cryptocurrency mining facility.

The development is notable, given the general lack of communication on this move - there appear to be no documents linking Bitmain with Ant Creek publicly available.

However, the report indicates the new mining facilities are already past the early stages of development, stating that Ant Creek's proposal would bring 15-20 jobs and $7-$10 million in private investments to the city. Further, one local official said he has been working with the company for roughly six months.

This is just the latest expansion effort by the China-based ASIC chip producer, which in recent months has launched expansion efforts in Canada and Switzerland, as reported by CoinDesk. While it is unclear how much progress has been made on the Canadian facility, Bitmain has already launched a Swiss subsidiary called Bitmain Switzerland.

Miniature builders image via Shutterstock

09.03.2018 / 05:00 459
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