Bitcoin mining firm Blockap has moved its headquarters from Las Vegas to Austin, Texas, an emerging hub for nascent technologies.
Per an announcement on Blockcap’s website, the firm chose Austin as its new headquarters for its workforce, favorable regulations, “as well as pronouncements by Governor Abbott and his team regarding protecting blockchain technology,” founder and executive chairman Darin Feinstein said.
Abbott shared the announcement via Twitter, tagging the @Bitcoin Twitter handle. He has recently been embracing innovation in digital asset technology for the Lone Star State. At the end of March, for instance, he signaled his support for new cryptocurrency laws.
"[Cryptocurrency] is increasingly being used for transactions and is beginning to go mainstream as an investment. (Fidelity, etc. trying to get Bitcoin ETF)," he tweeted. "Texas should lead on this like we did with a gold depository."
Also, the former governor of Texas, Rick Perry, cited Blockcap's presence as a major accelerant for job creation and sustainable economic growth in the state.
"The State of Texas welcomes Blockcap and its decision to establish its headquarters in our capital, which is yet more evidence that we have become the premier location for forward-looking industries like blockchain,” Perry said in a release.
Blockcap recently announced it has raised $38 million, a move lifting the firm’s total funding to $75 million since its founding last year. The company has recently acquired over 40,000 ASIC miners from Bitmain and Canaan and it plans to bring another 18,000 online by the end of the year.