Blockcap, a bitcoin mining and blockchain company, is moving its corporate headquarters from Las Vegas to Austin, with plans to continue to grow its operations, according to the company.
The company, which describes itself as one of the fastest-growing cryptocurrency mining operators in North America, was founded last year and combined assets from five existing bitcoin mining companies. Blockcap estimates it accounts for nearly 1% of all bitcoin network transactions.
What is Bitcoin?
Bitcoin is a cryptocurrency, which is a form of currency that exists only in digital or electronic form. Companies such as Blockcap "mine" bitcoins through a process that includes solving complex computational math problems. The companies often use equipment in bulk and scale operations to save on costs.