MINING

The cryptomining company Bitfarms invests $193 million in Canadian mining centers

The Backbone Hosting Solutions Inc. specializing in the cryptocurrency mining, also known as Bitfarms, declared that it intended to invest 250 million Canadian dollars (about $193 million) in computing centers in the Canadian city of Sherbrooke.

Due to the comments of the representatives of Quebec Bitfarms, the new centers will allow to increase the computing power of the company four times, at the same time the general staff will be increased from 80 to 330 people until the end of the year.

It’s also noted that Bitfarms had concluded six agreements on purchase of energy from the hydroelectric company Hydro-Sherbrooke — on 98 megawatts in total. For comparison, the new data-center of mining Hut 8 Mining Corp., which is supported by the billionaire and the investor Mike Novogratz, covers 42 megawatts.

It is noted that Bitfarms also have centers in the cities of Saint-Hyacinthe, Farnham, Notre-Dame-de-Stanbridge, Cowansville and Magog.

Earlier it became known that the government of Canada didn’t plan to toughen the norms regulating transactions with digital currencies.

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blockchain, ICO, bitcoin, ethereum, mining

MINING


The cryptomining company Bitfarms invests $193 million in Canadian mining centers

Published by blockchain, ICO, bitcoin, ethereum, mining