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

Home » MINING » The cryptomining company Bitfarms invests $193 million in Canadian mining centers
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.

  • bitcoinBitcoin$4,048.24
  • ethereumEthereum$139.12
  • rippleXRP$0.317942
  • tetherTether$1.00
  • eosEOS$3.71
  • stellarStellar$0.109828
  • litecoinLitecoin$60.31
  • cardanoCardano$0.053343
  • tronTRON$0.022870
  • moneroMonero$54.50
  • iotaIOTA$0.298829
  • nemNEM$0.050221
  • dashDash$92.35
  • neoNEO$9.32
What is Bitcoin?
The cryptocurrency industry is becoming more and more popular all around the world. Despite the fact that there are more than 1000 different cryptocurrencies and the number keeps growing, cryptocurrency is often associated with Bitcoin. Bitcoin is the first modern cryptocurrency in the world; it attracts thousands of users and investors from different countries. Millions […]
2019-03-20 0 39
Bitcoin, Ethereum, Ripple, Monero, Dash, Tron: major differences and features
Investors see different names of cryptocurrencies and the movement of their courses, but typically don’t even know why the digital coins are so popular. Most of us have already Googled “How to buy Bitcoin” or “How to sell Ethereum”. Cryptocurencies are becoming more and more popular: Bitcoin price is fluctuating and its value is not […]
2019-03-19 0 40
What is Blockchain?
“Giving users easy access to many different kinds of digital assets on the blockchain and, particularly, tokens that are linked to assets in the real world, is crucial to seeing blockchain adoption reach the next level, and I applaud Digix Global’s initiative in being the first of many such projects to successfully launch” – Vitalik […]
2019-03-06 0 39
Anton Vokrug, the CEO of DataTrading, about the financial markets and cryptocurrencies
The topic of cryptocurrency regulation will be actual for several more years in Ukraine. The Government of Ukraine has already taken steps towards the adoption of relevant cryptocurrency-related laws. In particular, the Ukrainian officials work on the legalization of the project “The Concept of State Policy in the Field of Virtual Assets”. However, what does the regulation really mean […]
2019-02-27 0 139
© 2017–2018