Canada-based DMG Blockchain Solutions has launched the installation of an 85-megawatt substation for crypto mining expansion, according to an official statement July 26. The DMG crypto mining operation will be implemented on an industrial scale with direct support from the local government and electricity providers
According to the statement, the 85-megawatt substation will be connected to the utility power grid, and will increase DMG’s hosting capability by more than 20 times.
Crypto mining facilities and electricity access will be provided for its Mining-as-a-Service (MaaS) clients, as well as for DMG’s own use. This “hybrid approach” will ostensibly allow the company to grow faster by combining the capital needs and investor returns of the traditional mining model with the low capital needs and steady revenue of the MaaS model.
Canada is has become a leader in crypto mining due to its low energy costs. According to provincial power utility Hydro Quebec, the province has an energy surplus equivalent to 100 Terawatt hours over 10 years and offers some of the lowest electricity rates in North America.
DMG Blockchain Solutions is a multi-sector crypto and blockchain firm that manages and provides Bitcoin mining and hosting in addition to blockchain platform development.
The flagship mining facility is set to become fully operational in September 2018 with 60 megawatts available for energizing mining rigs, and will reportedly be one the largest mining facilities in North America