Canadian Mining-as-a-Service Company to Build New 85 MW Crypto Mining SubstationJul 30, 2018, 9:43PM
Canadian Mining-as-a-Service company DMG Blockchain Solutions is building an 85 MW substation to increase its capacity and expand its services.
Canadian crypto mining firm DMG Blockchain Solutions Inc. announced that it has begun construction of a new 85-megawatt substation to support the expansion of its mining facility. The facility will be ready for operation in September 2018.
DMG Blockchain Solutions offers both mining services for public blockchains and services aimed at applying permissioned blockchains to the supply chain industry. The products and services on offer include mining, forensics, blockchain analytics, a trading tool, and a supply chain platform.
DMG’s Chief Operating Officer, Sheldon Bennett, is confident that the mining facility expansion will support their ambition, saying,
Building and managing a crypto mining operation at an industrial scale requires a world-class supply chain as well as direct access to local government and electricity providers. Our management team at DMG is unique in that we have the experience, the relationships, and the capital backing to do this successfully.
A Vancouver-Based Mining-as-a-Service Provider
Based in Vancouver, the substation will be connected to a utility power grid and enable DMG to offer a wider variety of services, which will help it gain a foothold in the ever-growing field of Mining-as-a-Service (MaaS). Cryptocurrency mining has become an expensive affair and the need for top-of-the-line hardware has put the activity out of the reach of most individuals. Companies like DMG offer an affordable solution. The company expects the facility to become the largest in North America, and that the substation will bolster “hosting capability by more than 20 times.”
The arrival of industrial-level mining services is a new development in the cryptocurrency space. While it has made independent, home mining more difficult, it offers a low-investment avenue for newcomers to earn money in crypto at a time when there is broad new interest in getting in without having to risk a large amount of money.
Disclaimer: information contained herein is provided without considering your personal circumstances, therefore should not be construed as financial advice, investment recommendation or an offer of, or solicitation for, any transactions in cryptocurrencies.