Bitfury Announces New 28MW Crypto Mining Facility in Ontario

Bitfury Group, a cryptocurrency and blockchain company headquartered in Amsterdam, announced today that it has launched a new 28 megawatts (MW) digital asset mining data center in Sarnia, Ontario. The firm stated that it established the new facility to expand its hosting capacity and add to the firm’s existing active digital asset mining sites in Scandinavia, North America and Eastern Europe/Central Asia.

Bitfury mentioned that the Sarnia facility is equipped with the company’s proprietary blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Read this Term software and hardware solutions, including its specialized ASIC chips, and other high-performance mining equipment.

The new facility is expected to have a capacity of 16MW by the end of this month and an additional 12MW of capacity to be added by the end of May. The project has an expansion potential of up to 200MW, Bitfury said.

Brian Brooks, the CEO of Bitfury, stated: “As one of the industry’s first and most established Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term miners, we are pleased to continue to expand our operations with the launch of our state-of-the-art facility in Sarnia. The demand for exposure to digital assets is exceptionally high, and the combination of Bitfury’s best-in-class infrastructure and proven operational expertise uniquely positions us to serve as a partner of choice to customers and investors globally.”

Optimizing Digital Assets to Meet Users’ Needs

Established in 2009, Bitfury has developed its business to provide a number of cryptocurrency and blockchain-related services, including software applications, cybersecurity and blockchain research. In addition, the company designs, manufactures and sells mining hardware.

Early this month, Bitfury hired the former OCC Senior Deputy Comptroller, Jonathan Gould, as the company’s new Chief Legal Officer. In October last year, the firm appointed the former US Acting Comptroller of the Currency, Brian P. Brooks, as its CEO. The firm made such appointments to enable the company to unlock the full value chain of Bitcoin and other digital assets.

In February last year, Bitfury completed transfers of its shares invested in Hut 8 Bitcoin mining firm. The sales came after Bitfury and Hut 8 terminated their historical Investor Rights Agreement between the two firms. Bitfury used the proceeds to accelerate its research and development, especially around its next-generation ASICs chip development, which positively influences its growing global ecosystems of customers and partners.

Bitfury has digital asset operations in the UK, Canada, Japan, Hong Kong, Korea, Norway, Georgia and Kazakhstan.