The first round of bids for 28GHz millimeter wave 5G spectrum has raised over $36 million for the Federal Communications Commission(FCC) so far this Wednesday, Nov14.

28GHz spectrum is expected to be one of the building blocks for 5G in the US. AT&T and Verizon are both launching their initial networks on such millimeter wave spectrum. This bandwidth provides operators with large swathes of spectrum to deliver gigabit-speed services over the air. In consumer terms, this should mean that users can download a movie wirelessly in seconds.

The  FCC ‘s  28GHz Dashboard lists total bidding of $36,428,510 with provisionally winning bids (PWB) for 2,016 licenses. In addition, 1,056 licenses are yet to receive bids. The auction will continue until bids dry up.

The applications included AT&T, T-Mobile US, and Verizon Communications, as well as smaller wireless operators.

Cable operators, except Cox Communications, however, aren’t taking part in the 28GHz and forthcoming 24GHz auctions.