Lake Parime – Manufacturer of Mobile Data Centers Used for Digital Asset Mining – Opens a New Sphere Repair and Manufacturing Facility in Jacksonville, Florida.
Lake Parime is building a cryptocurrency mining repair facility
Mining is very important to the cryptocurrency industry. It is the way in which new crypto units are extracted from different block chains and put into circulation. However, one must remember that like all things, mining equipment can break or suffer due to errors and glitches. Where does a miner go if they are having a hard time using their machines? How are they fixed, and who has the expertise to solve the problems they encounter?
Lake Parime clearly has a lot of these questions in its head, and looks forward to providing answers with the new facility it’s building. The company says it aims to hire up to 50 new employees in the coming months to ensure miners get the help they need. Executives say the facility will create hundreds of jobs and help keep the crypto space secure and mainstream.
This is the opposite of what many other big name crypto companies carry. While Lake Parime employs people, many people are forced to lay off employees and let employees go. Gemini, a New York-based crypto exchange for example, recently announced that it will lay off about ten percent of its employees due to the struggling crypto space. Thus, the company is working to reduce the number of people it employs from around 1,000 to 900.
Coinbase, a rival crypto exchange, is taking a similar approach, having recently announced that it has not only suspended hiring, but also laid off about 18 percent of its staff.
Aside from the repair center, Lake Parime – a UK-based company – says it will open an office for the company here in the US. COO Namesh Mistry explained in a recent interview:
We are pleased to embark on this ambitious and collaborative project with the City of Jacksonville, creating highly skilled and industrial jobs throughout the community.
Mining was hit hard
The company had several meetings with a foundation known as the JAXUSA Partnership before making its plans. That company’s president, Ondra Wallace, said in a statement:
Lake Parime is an exciting and 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 abroad.
The company chooses an unusual time to set up its new facility as the crypto space has been suffering severely in recent times. With cryptocurrency prices in the doldrums, miners’ earnings have taken a hit.
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