The Rise of Ant Creek

In a bid to expand its influence in the blockchain sector, Chinese cryptocurrency hardware giant Bitmain is reportedly establishing its footprint in the United States through Ant Creek mining centers. Recent reports indicate that Bitmain’s co-founder, Jihan Wu, is the sole governing figure of Ant Creek LLC, located in Tumwater, Washington.

Building Big in Walla Walla

According to local news sources, Ant Creek is in the process of constructing a blockchain facility at the Port of Walla Walla. Port Executive Director Patrick Reay mentioned that discussions with Ant Creek have been in the works for around six months. If everything goes as planned, the land lease could be finalized by the end of this year, with the opportunity for Ant Creek to purchase up to 40 acres of prime real estate.

Local Economic Impact

Walla Walla County is eager to reap the benefits of this burgeoning technology. The port officials anticipate the facility could inject between $7 million and $10 million in private investments into the local economy while generating about 15 to 20 new full-time jobs. With Bitmain sitting at the helm of the mining hardware market—holding roughly 70% to 80% of the market share, as estimated by investment research firm Bernstein—this venture could significantly stir the local economic landscape.

Challenges in Rural Mining

The cryptocurrency fad is not without its hurdles. Many rural towns in Washington are taking their sweet time trying to understand the staggering electricity demands tied to these operations. Reay noted, however, that the Port of Walla Walla isn’t sweating it, mainly because the city doesn’t serve as an electric provider.

Bitmain’s Global Strategy

With the regulatory landscape in China becoming increasingly convoluted, Bitmain has reportedly been eyeing potential expansions abroad. Following a ban on cryptocurrency exchanges and looming power regulations for miners back home, the company has been running mining operations in Canada since 2016 and is now looking to broaden its horizons even further.