Lake Parime – a manufacturer of portable data centers utilized for mining digital assets – is opening a new repair and manufacturing facility in the city of Jacksonville, Florida.
Lake Parime Is Building a Crypto Mining Repair Facility
Mining is very important for the crypto industry. It’s how new units of crypto are extracted from various blockchains and placed in circulation. However, one must remember that like all things, mining equipment can break down or suffer due to bugs and glitches. Where does a miner go if he or she is having difficulty with their equipment? How do they get it fixed, and who has the expertise necessary to resolve the issues they’re facing?
Lake Parime clearly has a lot of these questions in its head, and it’s looking to provide answers with the new facility it’s establishing. The company says it’s aiming to hire as many as 50 new employees in the coming months to ensure miners get the assistance they need. Executives say the facility is going to establish hundreds of jobs and help keep the crypto space secure and mainstream.
This is the exact opposite of what many other big-name crypto companies are enduring. At a time when Lake Parime is hiring people, many others are having to cut staff and let employees go. Gemini, a crypto exchange in New York for example, recently announced it was laying off about ten percent of its staff due to the faltering crypto space. The company is thus reducing the number of people it employs from about 1,000 to 900.
Coinbase, a competing crypto exchange, is taking a similar approach, having announced recently that it was not only putting a hiring freeze in place, but also that it was laying off about 18 percent of its staff.
Aside from the repair center, Lake Parime – a United Kingdom-based firm – says it’s going to be opening a corporate office here in the United States. COO Nimesh Mistry explained in a recent interview:
We’re delighted to be embarking on this ambitious and collaborative project with the city of Jacksonville, yielding high-skilled and manufacturing jobs across the community.
Mining Has Been Hurt Badly
The company had several meetings with an enterprise known as JAXUSA Partnership prior to establishing its plans. That firm’s president Aundra Wallace said in a statement:
Lake Parime is an exciting, innovative company, and we appreciate them choosing to invest and grow in Jacksonville. This investment is a direct result of the relationships we are building in London, and we look forward to building on this important partnership overseas.
The company is choosing an unusual time to set up its new facility given that the crypto space is suffering heavily as of late. With so many crypto prices falling into the doldrums, the revenue of miners has taken several hits.