Monday, March 22, 2021

Two Canadian companies agree to alliance to dedicate themselves to the “green mining” of Bitcoin

 


Key facts:

The new mining farms will run on wind, solar and natural gas power.

The facility will be built in April in the Alberta region of western Canada.


Canada-based companies Link Global Technologies, dedicated to mining bitcoins, and Neptune Digital Assets, specializing in blockchain technology, announced the upcoming joint construction of a bitcoin mining farm that will run on sustainable energy.

In a statement published this March 19, both companies announced that they signed a letter of intent that contemplates the use of wind energy, solar and natural gas for the operation of the mining facilities. In addition, they foresee that the energy consumption is 5 MW.

The signed agreement details that the new mining farm is part of a joint venture in equal parts, so that expenses and income will be shared.

Both Link and Neptune indicated that they hope to finalize a final agreement early next April. They also consider that this would be the starting point for the construction of the new facilities in the province of Alberta, in the west of the North American country.

At the beginning of this month of March, it also agreed with Neptune the conditioning of the new facilities, as well as the supply of energy and service for 1,500 mining equipment of Integrated Circuit for Specific Applications (ASIC), with which it expects to produce approximately 0.7 bitcoin per day.

The CEO of Neptune, Cale Moodie, also expressed his interest in promoting the development of bitcoin mining operations in a sustainable way in the world, using renewable energy.

"We hope, as a team, to become a major power in low-cost, carbon-neutral mining, as well as leverage the carbon credits available for trade in that burgeoning market."

Cale Moodie, CEO of Neptune.

On this, the president and CEO of Link, Stephen Jenkins, assured that they are determined to demonstrate that the future of mining for cryptocurrencies is possible with green energy. "We see this as the beginning to expand our footprint in renewable energy projects for digital currency mining," he said.

With this plan, these two companies join a growing trend currently in the ecosystem, which seeks to increase the management of renewable energy in cryptocurrency mining. Thus arises projects focused on what has been called the "green mining" of bitcoin.

Canada and the United States: a popular destination for miners

Canada and the United States have gradually become a favorite territory for mining companies that have decided to start a new stage.

Last February, CriptoNoticias reported that apparently, a great movement is brewing to challenge the dominance of cryptocurrency mining traditionally deployed in China.

Companies like Riot Blockchain have chosen to settle in North America with the intention of setting up farms with 11,542 Antminers.

Another example is Bitfarms, which at the beginning of March signed an agreement with the Chinese manufacturer of mining equipment MicroBT, for the acquisition of 48,000 units of miners, which would add to the growing computing power of Bitcoin present in North American territory.