DMG Blockchain Expands Bitcoin Mining Operations with New Machines in Canada

The Latest Addition to DMG’s Mining Arsenal

Canadian tech titan, DMG Blockchain Solutions, just cranked up the Bitcoin mining game by installing a whopping 1,000 new machines at its Christina Lake facility in the beautiful British Columbia. According to their press release on January 6, these miners were procured from Bitmain, a leading company in the mining hardware scene. And get this— the power consumption of these machines packs a punch at around 1.5 megawatts! Who knew Bitcoin could be such a power-hungry critter?

Client Confidentiality and Strategic Shift

While DMG seems to have their hands full with expanding their mining capabilities, they’re a bit stealthy about their clientele. The new mining rigs are primarily aimed at a U.S.-based client, whose identity remains under wraps for now. DMG has made a strategic decision to pivot towards attracting large-scale hosting clients, as per COO Sheldon Bennett. He pointed out that profitable crypto mining happens when cost efficiencies are optimized. Sounds like a winning strategy!

Previous Ventures and Future Potential

Last October, DMG and Bitmain started their partnership on an exploratory basis, where DMG took the reins of managing Bitmain’s facility in Texas. This gig saw almost 15,000 next-gen miners being set up and ready to dig deep into the crypto gold rush. Think about it— this means DMG has already got a taste of handling large-scale operations successfully!

Facility Capabilities

Now let’s talk about the jaw-dropping capabilities of DMG’s facility. Initially launched in November 2018, the Christina Lake operation was set to start off with 60 megawatts but has the potential to expand its power to a hefty 85 megawatts. Sitting pretty at 27,000 square feet and sprawling over 34 acres, it’s said to be one of the largest operations in North America. Plus, they’re doing their part for the environment by utilizing hydroelectric power—a huge win, considering Canada’s surplus. Local residents can rest easy knowing their power supplies won’t go into the Bitcoin black hole.

Across the Industry: Mining Behemoths

Speaking of big players, have you heard about Riot Blockchain? On January 8, they announced plans to deploy around 3,000 S17 Pro Antminers from Bitmain as part of an extensive upgrade at their Oklahoma City facility. When all is said and done, they anticipate their total operating hashrate will soar to approximately 248 petahash per second. That’s a 240% increase in hardware power efficiency! Makes you wonder if bitcoin mining is the new Olympic sport, with all these athletes going for gold.