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Bitmain Makes Power Play: First U.S. Crypto Mining Facility Set to Disrupt Energy Markets – Bloomberg
Bitmain Makes Power Play: First U.S. Crypto Mining Facility Set to Disrupt Energy Markets – Bloomberg
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Bitmain—the Beijing-based mining juggernaut—just dropped a bombshell: its first U.S. facility is officially in the works. Cue the regulatory scramble and energy-sector panic.
Why Texas? Cheap power, looser regs, and politicians who still think 'blockchain' is a fitness trend. The facility’s specs? Classified—but expect ASICs to guzzle megawatts like Wall Street bankers at an open bar.
Market impact? Miners are already front-running the announcement. Hashrate derivatives spiked 18% on rumors alone. Meanwhile, ESG funds are drafting angry tweets.
Bottom line: Another nail in the coffin for the 'crypto is dead' narrative. The industry’s not just surviving—it’s colonizing. (And yes, your electricity bill will notice.)
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