Amid a Canadian political storm, Bitfury is constructing a crypto mining farm that has a 200MW potential capacity.
Brian Brooks-led Bitcoin mining company Bitfury is setting up operations in Ontario, Canada.
They join HIVE Blockchain Technologies and green crypto mining operation Canada Computational Unlimited Incorporated. The new mining setup will have a capacity of 28 megawatts, with 16 megawatts of the initial capacity, slated for launch at the end of February. An additional 12 megawatts of power will be completed by the end of May. and there is the option to further develop the facility into a 200 MW operation. The facility in Sarnia, Ontario, will expand the footprint of Bitfury, with mining operations in North America, Scandinavia, and Eastern Europe/Central Asia.
Brian Brooks, Chief Executive Officer of Bitfury, said of the new facility, “As one of the industry’s first and most established Bitcoin miners, we are pleased to continue to expand our operations with the launch of our state-of-the-art facility in Sarnia.”
Bitfury’s expansion into North America was realized via a partnership with Canadian crypto mining company Hut 8. Hut 8 operates two facilities for Bitfury in Alberta. Oleg Blinkov, the Head of Data Center Development and Operations at Bitfury, said that North America continues to pose an attractive proposition.
Sustainability is a drawcard to crypto mining companies
Canada’s cool climate is critical for mining, and its data centers generate a lot of heat. Canada’s roaring rivers, primarily in Quebec, power environmentally-friendly mining activities.
A company called MintGreen is supplying a brewery and sea salt distillery in Vancouver, Canada. It has partnered with Lonsdale Energy Corporation, which provides Northern Vancouver with electricity. Still in the northwest, in the town of Saint-André, Hive Blockchain is building four sophisticated warehouses for crypto mining machines. The facility, when completed, will be able to mine five bitcoins per day.
Compass Mining also has a facility in Ontario, which runs primarily on nuclear and hydropower energy sources. The facility has a capacity of 100MW. DMG Blockchain Solutions set up shop in South Vancouver due to its cheap electricity.
Canadian government steps in
Canada has been front-and-center recently concerning protests of truckers against COVID-19 vaccine mandates. Some Canadian bank accounts were frozen, shocking citizens. The police also stopped 253 wallets from engaging in cryptocurrency.
Tracing accounts to individuals disproves the notion that cryptocurrency transactions are anonymous. Cryptocurrencies are legal in Canada but are not considered legal tender. Anyone registered on a central exchange may have to link their personal information to the wallet.
Disclaimer
In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.
