DMG Blockchain has finally started powering up its huge crypto mining farm that makes use of renewable energy. Sprawling across 34 acres in British Columbia, DMG Blockchain has begun powering up 60-megawatts worth of crypto mining hardware out of its total of 85.
It’s slowly adding capacity to its farm to iron out any teething issues before going full steam ahead. Canada is quickly becoming a hotbed for crypto mining activity thanks to its abundance of low-cost hydroelectric power.
Hydroelectric Power is the Call of the Day
DMG Blockchain prides itself on using clean, green renewable energy in the form of hydroelectric power. Canada’s abundance of rivers, streams, and estuaries provide the nation with the ability to harness the power of nature in order to drive forward the next wave of technological innovation.
Hydroelectric power is not only green and clean, but it’s also ultra-cheap – meaning firms don’t need to worry about huge power bills. This coupled with Canada’s cool climate help firms reduce overall power bills by cutting out the need for excessive cooling.
Mining as a Service
Allowing users to buy up mining power, DMG Blockchain will handle the hardware allocation and all the technical aspects that come with it. This makes it ideal for companies looking to get into crypto mining that don’t have the immediate resources. Unlike cloud mining, mining as a service is more exclusive and is reserved for high-end clients or shareholders.
Argo Mining Choosing Canada
Canada isn’t just the obvious choice for DMG Blockchain. Argo mining – the first crypto mining firm listed on the London Stock Exchange – has also set up its crypto mining facilities in Canada. Using renewable and clean power for its operations is at the heart of its brand promise, making Canada’s hydroelectric-rich province of Quebec a standout favorite.
Can Canada Compete with Iceland?
Canada has strong competition from Iceland when it comes to crypto mining. Iceland produces more geothermal power every day than its citizens can consume. This means it can sell off the excess power to crypto mining firms for a pittance. Combined with its arctic-like climate, Iceland stands out as a hub for crypto miners looking for a European base – strong enough to compete with Canada’s booming mining industry.
DMG Blockchain consumes as much power as 50,000 homes, but its power is independent of the national grid – meaning residents don’t need to worry about power outages. Hydroelectric power is becoming more popular with crypto mining firms, so we can expect to see more miners moving their operations to Canada in the coming months and years.