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New Compute North CTO to Drive Next Phase of Crypto Mining Solutions


beincrypto.com 05 May 2021 12:42, UTC
Reading time: ~2 m

Compute North is beginning its next phase of digital infrastructure solutions and crypto mining with a new Chief Technology Officer. 

Dr. Nelu Mihai is set to join the computing infrastructure company as the latest addition to its expanding leadership. Within his role, Dr. Mihai will lead a number of Computer North initiatives, including a focus on high-performance computing and crypto mining solutions.

Compute North is already an industry leader when it comes to economical, large-scale computing and crypto-mining infrastructure. Now, with Dr. Mihai at the helm, the company is preparing to advance its full-stack technology roadmap. This will support the next phase of their computing and crypto mining infrastructure solutions.

In a report shared with BeInCrypto, Dr. Mihai, who held several executive roles before taking his position at Compute North, stated:

“Compute North is at the intersection of three structural trends in the digital transformation of the enterprise – distributed peer-to-peer processing of blockchain transactions and cryptocurrency revolution; distributed multi-cloud computing; and distributed generation of electrical power catalyzed by the ubiquitous proliferation of renewable energy.”

New methods of crypto mining

One of Compute North’s key products is low-cost and efficient infrastructure for those in the crypto mining space. Cryptocurrency mining can be expensive, given the amount of electricity the process consumes. It also has a large annual carbon footprint—around 37 million tons of carbon emissions. And yet it remains a massive part of the market.

However, with these figures in mind, some companies have turned to alternative methods. More specifically, renewable energy sources.

Hydroelectricity is already something of a prominent player here. Especially in China, for example; a country that accounts for over half the world’s crypto mining capacity. Back in April, Inner Mongolia announced it would cease all crypto mining operations due to the environmental impacts and the region’s reliance on coal. As a result, crypto miners revealed they would move their operations to other regions in China, which use hydroelectricity. Companies such as Bitmain were among them.

In addition, back in March, Argo Blockchain announced their plans to launch the first Bitcoin (BTC) mining pool to run on clean energy. This venture, entered into with DMG Blockchain Solutions, will be called Terra Pool.

Furthermore, in April, Neptune Digital Assets Corp. in Vancouver also entered into a joint venture. In this case, with Link Global Technologies. This venture hopes to create a renewable energy-dominated Bitcoin mining facility in Alberta. Neptune stated that the mining site would run off solar and wind power, alongside minimal natural gas.

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