Canada to host Bitfury's new 28MW crypto mining facility
Blockchain company Bitfury announced the launch of a new crypto-mining data center in Ontario, Canada. The new crypto mining center adds to the list of existing Canadian sites currently operating in Drumheller, Alberta and Medicine Hat.
Bitfury partnered with Hut 8 Mining, a Toronto Stock Exchange-listed Bitcoin (BTC) mining company, to set up mining operations across North America. The new crypto mining facility in Ontario is expected to operate at 16 megawatts (MW) by the end of this month.
According to the announcement, Bitfury has plans to add 12MW capacity in the coming months, which will bring up the total capacity of the mining facility to 28MW by May end. However, the company highlighted that the facility could be potentially upgraded to operate at 200MW, over seven times the current capacity.
Located in the city of Sarnia, the site is equipped with Bitfury’s in-house ASIC mining chips and other proprietary hardware and software. All of Bitfury’s Canadian crypto mining facilities heavily rely on Canada’s cold climate for sustainable and efficient operations.
Sustainability increased by 1% in Q4 https://t.co/gGrgE4C4Zl
Citing the commencement of operations, Oleg Blinkov, Bitfury’s Head of Data Center Development and Operation said:
Back in October, Bitfury co-founder and CEO Valery Vavilov told Cointelegraph about his plans for considering an initial public offering to fast-track the company’s global growth:
“As Bitfury and its portfolio of companies continue their global expansion in the digital assets space, Bitfury will be considering an IPO as part of its broader expansion and growth plans.”
Related: Canadian MP introduces bill aimed at encouraging growth in crypto sector
Earlier this month, Michelle Rempel Garner, a
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