Canadian Tech Company Installs 1,000 New Bitcoin Mining Rigs

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Canadian tech company DMG Blockchain Solutions has installed 1,000 new Bitcoin (BTC) mining machines at its Christina Lake mining-as-a-service facility in British Columbia. 

Per a Jan. 6 press release, DMG has purchased the new miners from Chinese mining giant Bitmain, with the total power consumption of approximately 1.5 megawatts. 

Initially announced in December of last year, the newly installed mining equipment will serve a U.S.-based client, whose name was not revealed in the release. DMG operates as an industrial scale crypto mine hosting company, allowing clients to mine crypto through equipment stationed at its facilities in Northwest Canada. 

DMG’s crypto mining developments

DMG’s COO Sheldon Bennett said that “DMG made a decision to focus on attracting large scale hosting clients as profitable crypto-mining is a function of creating cost efficiencies, and our mining facility is well suited for industrial miners.”

Last October, DMG and Bitmain entered an exploratory agreement, under which DMG has been managing Bitmain’s Texas-based facility and set up nearly 15,000 next-generation miners.

In November 2018, DMG energized its new crypto mining facility, stating that the facility would start at 60 megawatts, and can expand its capacity up to 85 megawatts. The 27,000 square foot crypto mining-as-a-service operation occupies an area of 34 acres and is ostensibly one of the biggest such operations in North America.

Since the facility uses hydroelectric power — of which there is a surplus in Canada — the operation reportedly does not affect the power needs of local residents.

Crypto mining proliferates

On Jan. 8, digital currency mining firm Riot Blockchain began deploying around 3,000 new units of S17 Pro Antminers purchased from Bitmain as part of the full upgrade of its Oklahoma City mining facility.

Riot anticipates that, following the deployment of all 4,000 next-generation miners, its aggregate operating hashrate at the Oklahoma City mining facility will reach approximately 248 petahash per second, representing a 240% increase in hardware power efficiency compared to its mining hashrate.

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