Massive Mining Facility Approved in Alberta

Massive Mining Facility Approved in Alberta

 Medicine Hat, Alberta to be the new home of a huge Bitcoin mining facility. 

Medicine Hat, Alberta to be the new home of a huge Bitcoin mining facility. 

In an effort to diversify the city's economy, Medicine Hat (in southern Alberta, Canada) has just approved construction for a massive Bitcoin mining operation. Hut 8 Mining Corp will immediately begin the $100M CAD construction project, and hopes to be fully operational by September this year. Hut 8 already has an 18.7 megawatt facility, about 100 miles away, in Drumheller. Thanks to the new Unit 16 power plant, Hut 8's new facility is able to use 42 megawatts of power, which more than triples their total output potential, between both operations. CBC.ca reports that about 750 Bitcoins have already been mined this year in the Drumheller facility, so the massive increase in their operation will certainly produce a lot of Bitcoin. The company's board chairman, Bill Tai, had this to say about the news:

The signing of the electricity supply agreement and the land lease represents a key component in achieving our business plan for the roll-out of our BlockBox Data Centers in low-cost energy jurisdictions

http://bitfury.com/

The BlockBox Data Center Tai refers to, are self-contained mining modules provided by their recent partner, Bitfury.  Bitfury, is a large company specializing in the production of both software and hardware for cryptocurrency mining. The two companies partnered in December 2017,  and will now have the largest mining operation in North America. 

Ted Clugston, Medicine Hat's mayor expanded on the notion that this will diversify the city's economy: 

We’ve made economic development a huge priority down here because we were hit very, very hard by the oil and gas decline...Really we’re just turning gas into electricity and they’re taking that electricity and turning it into blockchain, or ones and zeroes.

The construction of Hut 8's new facility will provide approximately 100 temporary jobs the small city's population of 63,260, and will provide 42 full-time positions for electricians, systems engineers, security staff and laborers. 

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