Back to the list

Bitfury Builds A Bitcoin Mining Facility In Canada

www.cryptovibes.com 25 February 2022 22:50, UTC
Reading time: ~3 m

Bitfury’s newest mining facility is set to be located in Canada’s southern town of Sarnia. The Amsterdam-based bitcoin mining firm confirmed that it will launch a new 28MW digital asset mining site in Ontario, Canada. For now, reports indicate that the facility will launch with an operational capacity of 16MW, while an extra 12MW will be added by the end of May 2022.

Bitfury’s Next Mining Location

The technology firm that is focused on digital asset mining now has mining sites in Eastern Europe, Scandinavia, North America, and Central Asia. Based on a recent official press release, it will double down on its North American operations by setting up a site in Sarnia, Ontario.

This new facility will be equipped with the right blockchain software and hardware solutions. It is also expected to employ specialized ASIC chips and other high-performance mining equipment.

Brian Brooks, Bitfury’s CEO, said that the current demand for digital assets seems to be ‘exceptionally high.’ In that context, he said that his firm will apply “best-in-class infrastructure and proven operational expertise” to work as a partner of choice to its many clients and investors around the world.

Bitfury’s Head of Data Center Development and Operations, Oleg Blinkov, insisted that the company strives to offer mining solutions that:

“harness the benefits of optimal energy, ultra-high-performance equipment, and unmatched data center management experience.”

Furthermore, he described North America as a perfectly strategic region for Bitfury’s activities. He concluded:

“We are excited to deepen our presence here and around the world.”

Launched in 2011, the mining firm is among the first operators in its sector. In 2021, it announced its intentions to go public by November 2022. With a valuation of more than $1 billion, Bitfury has several prominent backers including Mike Novogratz’s Galaxy Digital.

Bitfury’s New Boss

In November 2021, Brian Brooks came in as the new Chief Executive Officer of the firm. Before that, he was the head of Binance US. After coming in, Valery Vavilov (Bitfury’s former CEO) became the Chairman of the Board of Directors and Chief Vision Officer.

After his appointment, Brooks promised to establish the company among the European leaders in the digital asset sector. He also highlighted Bitfury’s most notable qualities, its innovative nature, and superior technologies.

The American has also served as the Interim Head at the Office of the Comptroller of the Currency (OCC) in the Trump administration. Back in 2021, he displayed himself as a major proponent of cryptos and blockchain technology:

“Blockchain has the potential to connect up, in a decentralized network, all kinds of data. It has the ability to create large, friction-free, decentralized networks of people. There is huge and great promise in blockchain and crypto.”

Back to the list