Canada to host Bitfury’s new 28MW crypto mining facility

Blockchain firm Bitfury introduced the launch of a new crypto-mining information heart in Ontario, Canada. The new crypto mining heart provides to the checklist of current Canadian websites at present working in Drumheller, Alberta and Medicine Hat.

Bitfury partnered with Hut 8 Mining, a Toronto Stock Exchange-listed Bitcoin (BTC) mining firm, to arrange mining operations throughout North America. The new crypto mining facility in Ontario is anticipated to function at 16 megawatts (MW) by the tip of this month.

Bitfury mining facility in Medicine Hat. Source: Hut 8

According to the announcement, Bitfury has plans to add 12MW capability within the coming months, which is able to deliver up the whole capability of the mining facility to 28MW by May finish. However, the corporate highlighted that the facility may very well be probably upgraded to function at 200MW, over seven instances the present capability.

Located within the metropolis of Sarnia, the positioning is supplied with Bitfury’s in-house ASIC mining chips and different proprietary {hardware} and software program. All of Bitfury’s Canadian crypto mining amenities closely depend on Canada’s chilly local weather for sustainable and environment friendly operations.

Citing the graduation of operations, Oleg Blinkov, Bitfury’s Head of Data Center Development and Operation stated:

“North America continues to characterize a beautiful, strategic marketplace for Bitfury and digital asset mining at massive, and we’re excited to deepen our presence right here and around the globe.”

Back in October, Bitfury co-founder and CEO Valery Vavilov instructed Cointelegraph about his plans for contemplating an preliminary public providing to fast-track the corporate’s world progress:

“As Bitfury and its portfolio of firms proceed their world enlargement within the digital belongings house, Bitfury can be contemplating an IPO as a part of its broader enlargement and progress plans.”

Related: Canadian MP introduces invoice aimed toward encouraging progress in crypto sector

Earlier this month, Michelle Rempel Garner, a member of the House of Commons of Canada, launched a invoice recommending a framework to encourage progress in crypto.

“The framework should, amongst different issues, deal with reducing boundaries to entry into the cryptoasset sector whereas defending these working within the sector and minimizing the executive burden,” Garner stated within the proposal.