Canada’s DMG Blockchain Solutions has started establishing 85 MW substation for crypto mining expansion, according to an official statement on July 26. DMG crypto mining operations will be implemented on the industrial scale with direct support from local government and electricity providers.
DMG Blockchain Solutions is a multi-sectoral crypto and blockchain firm that provides hosting in addition to blockchain platform development.
In Sept 2018, the flagship mining facility has become absolutely operational, during which 60 MW is accessible for activating the mining rig, and it’ll be the most important mining facility in North America.
According to the statement, the 85 MW substation will be connected to the utility power grid, and the DMG’s hosting capacity will increase by more than 20 times.
Crypto mining facilities and electricity will be used for its own use of DMG as well as its mining-As-A-service (maas) customers. This “hybrid approach” will clearly allow the company to grow faster with the capital requirements and investor returns of the traditional mining model, with fewer capital requirements and steady revenues of the mass model.
Canada has become a leader in crypto mining due to low energy costs. According to the provincial electricity utility Hydro Quebec, the province has an energy surplus of 100 terawatt-hours in 10 years and provides some of the lowest electricity rates in North America.
Recently, Hydro Quebec proposed a new rule for which miners need to bid for electricity, demand for allotment of 500 MW is being made, besides the addition of 120 MW of existing MW.
At the beginning of this month, Toronto-based Bitcoin Mining Company, Hut announced that it has completed its second mining site in the country, making the company the world’s “largest publicly traded” operator with a capacity of 66.7 MW.