Recently, DMG Blockchain Solutions Inc. said they started to install the new electrical transformer and substations for the expansion of production.
DMG is a diversified cryptocurrency company that works on integrated solutions for the monetization of ecosystem block networks. The construction of the transformer capacity of 85 MW and an electrical substation, will expand the capabilities of its flagship mining of virtual currency in Canada.
Optimistic plans for the future
According to DMG, the new substation will be connected to a common grid and by September 2018 will be fully prepared to work. The company claims that the new infrastructure will increase the possibility of hosting no less than 20 times and make flagship mining farm, one of the largest on the continent.
Executive Director, DMG, Sheldon Bennett, noted that the establishment and management of industrial scale mining centre requires a reliable resource and strong relationships with local authorities.
Stephen Eliska, Vice President of corporate development, said that “the advanced mining equipment of the company and access to affordable energy,” create great opportunities for the future of DMG.
Besides mining, the DMG also focused on creating a platform to provide “full traceability” through the tracking of the supply chain and conducts investigations related to requirements of KYC and AML.
On the website of the DMG says that they want to become “experts in various fields, including agriculture, energy, precious metals, financial services and manufacturing.
False alarm about the energy crisis?
Many people disturbs large amounts of electricity, which is used for mining cryptocurrency. Some experts from Iceland earlier in the year expressed concern about the number of miners who flocked to the country to set up mining business, considering that the local power company will not be able to meet the rapidly increasing demand.
In Quebec, the energy distributor was just raised rates for mining companies.
However, some believe that Bitcoin mining may actually be more energy intensive, as it represents some, as there is “adequate data” to make reliable conclusions, what is the power consumption Bitcoin mining, because the miners use specialized mining equipment, which are much harder to track than standard servers.
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Label: DMG mining