Canadian Cryptocurrency Miner to Install 85-Megawatt Power Substation

DMG Blockchain Solutions Inc., a diversified blockchain firm, is in the process of installing an 85-megawatt transformer and electrical substation for the firm’s cryptocurrency mining facility, according to a company statement. The new substation is  commissioned to be operational by September 2018, using 60 megawatts offered for illustrious mining rigs.The Canadian firm offers a variety of services including Mining as a Support (MaaS),where it manages bitcoin mining behalf of third parties in scale. The installation of the new substation is expected to “boost DMG’s hosting capability by more than 20 times. ”DMG runs its crypto mining centers as a hybrid, both operating its clients and utilizing the amenities to mine on its own behalf. The company says this approach lets it”scale in a quicker rate” than the”pure mining model,” as it might”balance the capital requirements” and investor’s ROI with the”steady revenue” generated in the MaaS model. DMG’s CEO Dan Reitzik and COO Sheldon Bennett spoke to Bitcoin Magazine regarding the new installation. “DMG is happy with its progress toward becoming a top provider of crypto-mining hosting services in North America,” said Reitzik. “Building the power infrastructure for 85 megawatts at a compressed time period is a herculean job that truly illustrates how well the DMG team is implementing. ”Bennett highlighted the learning curve the company has had to go through but they were better for this. According to Bennett, DMG can now scale their mining capacity through a practice of “step-and-repeat of the existing flagship mining facility. ” The new substation will be linked to the utility power grid, and the firm expects it to create an additional 60 megawatts, when it launches, which is utilised to power mining rigs.EVP for Corporate Development Steven Eliscu added that the mixture of “leading-edge mining equipment and accessibility to low-cost power” makes him”optimistic” about the future of the company.

This article originally appeared on Bitcoin Magazine. […]

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