DMG Blockchain Solution Inc., a Canadian blockchain and cryptocurrency company, has energized its new cryptocurrency mining facility in Western Canada, an area known for its abundant hydroelectric power.
In a statement, DMG announced that its flagship facility will start with 60 megawatts (MW), although the facility can be expanded to 85MW. The company first revealed its plans to launch the facility in July, noting that its crypto mining operation was going to be implemented on an industrial scale with support from the authorities and power providers.
DMG Blockchain Solution offers many services and products, including Mining as a Service (MaaS), where it manages cryptocurrency mining on behalf of third parties. This new substation is expected to increase DMG’s hosting capability by more than 20 times. At this new facility, DMG can host more than 30,000 units of industry-standard crypto miners.
The company runs its crypto mining facilities as a hybrid. This means that it serves its clients and uses the facilities to mine its own cryptocurrencies. The company claims that this approach helps them to maximize their operations compared to companies that use ‘the pure mining model.’
DMG is considered to be one of the largest crypto mining operations in North America. The 27,000 square foot crypto MaaS occupies 34 acres of land. The facility is currently using clean hydroelectric power. Despite using energy that could power 50,000 houses, officials said it won’t have an impact on the power needed for local consumption.
Canada has become an attractive location for cryptocurrency mining as it provides affordable power to the miners. This has caused an increase in crypto mining activities in the region. In June, major Canadian electricity provider Hydro-Québec proposed new rules to regulate power consumption by companies in the blockchain space. Hydro-Québec seeks to allocate up to 500MW, in addition to 120MW of already existing initiatives. The power supplier claimed it has received requests to purchase power from more than 100 organizations with a total energy consumption exceeding 10TW hours.
New to blockchain? Check out CoinGeek’s Blockchain for Beginners section, the ultimate resource guide to learn more about blockchain technology.
