Crypto tech firm Bitfury said operations have begun at its new Canadian mining site, with capacity expected to reach 16 megawatts by the end of the month, and another 12MW to be completed by the end of May.
This Sarnia, Ontario, facility joins other Bitfury mining locations in North America, Norway and the Republic of Georgia. In Canada, the company has a partnership with crypto miner Hut 8 to mine digital assets in data centers located in the province of Alberta.
“North America continues to represent an attractive, strategic market for Bitfury and digital asset mining at large,” said Bitfury’s Oleg Blinkov, the head of Data Centers Development & Operations.
Other recent Ontario mining deals include a 140MW project jointly managed by Compass Mining and Red Jar Digital. This agreement was announced in November, with the project projected to be fully up and running early this year.
Competitor Bitfarms, one of the largest mining companies operating in Canada, currently has most of its facilities located in the province of Quebec.
DISCLOSURE
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.
