Feb
Bitfury, a blockchain business, has announced the opening of a new crypto-mining data centre in Ontario, Canada. The new mining hub joins the list of existing Canadian locations, which include Drumheller, Alberta, and Medicine Hat, Alberta.
Bitfury’s new crypto mining facility in Ontario is anticipated to be operational by the end of this month, with a capacity of 16 megawatts.
According to the release, Bitfury intends to add 12 MW capacity in the next months, bringing the mining facility’s total capacity to 28 MW by the end of May. However, the business said that the plant could be modified to function at 200 MW, which is more than seven times the existing capacity.
The station, which is located in Sarnia, is outfitted with Bitfury’s in-house ASIC mining chips as well as other proprietary gear and software. All of Bitfury’s Canadian crypto mining facilities depend largely on the country’s chilly environment to ensure long-term and effective operations.
Oleg Blinkov, Bitfury’s head of data centre development and operation, said in reference to the start of operations:
“North America continues to represent an attractive, strategic market for Bitfury and digital asset mining at large, and we are excited to deepen our presence here and around the world.”
Bitfury co-founder and CEO Valery Vavilov informed Cointelegraph in October about his ambitions to contemplate an initial public offering to accelerate the company’s worldwide growth:
“As Bitfury and its portfolio firms continue to expand globally in the digital assets field, Bitfury will pursue an IPO as part of its larger development and growth objectives.”
Michelle Rempel Garner, a member of Canada’s House of Commons, proposed a bill earlier this month advocating a framework to support crypto development.
“The framework must, among other things, concentrate on decreasing entry barriers into the crypto asset industry while safeguarding people working in the field and eliminating administrative cost,” Garner said in his proposal.
