Cryptocurrency infrastructure company to open manufacturing site in Jax (Courtesy of First Coast Inno) — A manufacturer of portable data centers used to mine cryptocurrency plans to open a repair and manufacturing facility in Jacksonville, the company said Monday.
Lake Parime plans to hire 50 people for the facility in the first phase of development and says that could ramp up to “hundreds of jobs” in coming years. Along with the repair center and manufacturing line, the company will open a corporate office — its first in the United States.
The company did not release details on where it would be located other than saying it would redevelop a former manufacturing site on the Northside
The UK-based company makes shipping-container-sized boxes filled with servers designed to handle intensive computer tasks — things like machine learning, modeling and mining cryptocurrency.
Because the boxes are portable, the company’s pitch is that they can be installed at energy generating sites — particularly those generating renewable energy — and use power that would otherwise be wasted.
Last month, Lake Parime and Bitcoin miner TAAL Distributed Information Technologies Inc. announced a plan to deploy Lake Parime’s Powerbox infrastructure at one of the three nuclear power plans active in Ohio.
By setting up in North America, the company said in a statement about the Jacksonville announcement, it will have better control over its supply chain and extend the shelf life of its equipment by doing in-house manufacturing and repair work.
“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,” Lake Parime COO Nimesh Mistry, COO said in the statement.
The deal to bring the company to Jacksonville came out of meetings JAXUSA Partnership had with the firm during its economic development trip to the United Kingdom in conjunction with the Jaguars’ London game last year.
“Lake Parime is an exciting, innovative company and we appreciate them choosing to invest and grow in Jacksonville,” JAXUSA Partnership President Aundra Wallace said in a statement. “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.”
Image courtesy of CNBC