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Bit5ive, a Miami-area company that creates custom-built cryptocurrency data mining centers, will hire 300 full-time employees as part of its South Florida expansion.

Founded in 2015, Bit5ive manufactures the mining centers in Miami and then ships them to destinations across the globe. Cryptocurrency mining is the process by which new units of digital currencies like Bitcoin are created. It’s an intensive process that requires large data centers to house specialized computers that solve computational puzzles to “mine” the new coins.

The company’s mobile data mining centers are built with high-resistance steel to produce low-cost structures suited for harsh environments, according to its website.

“One of our goals is to make South Florida the leading home for other crypto companies like ours, as well as others in the [crypto] industry,” said Bit5ive founder and CEO Robert Collazo.

Bit5ive, currently headquartered in Medley, is expanding to a 130,000-square-foot production facility in Hialeah Gardens that is currently under construction. The firm is also hiring hundreds of full-time workers – including electrical engineers and technicians – for positions with starting salaries at $65,000 a year.

South Florida’s flourishing cryptocurrency industry and proximity to Latin America – another up-and-coming center for the sector – make it a prime location for Bit5ive to grow, Collazo said.

Bit5ive isn’t the only crypto mining operation growing its footprint in the Miami area, a rising cryptocurrency hub. In July, Bitcoin mining company Bit Digital leased an office in Miami Beach, its second U.S. location. And Miami-Dade could soon get its first industrial crypto mining operation after the city of Homestead said it could welcome a $15 million Bitcoin mining facility to the area.

Miami Mayor Francis Suarez, a cryptocurrency advocate, spent much of 2021 recruiting new crypto businesses and jobs to the area in an effort to rebrand the city as a hub for the industry.