Bitcoin Mining

Source: technologyreview.com

A Canadian town about 60 miles east of Montreal called Saint-Hyacinthe was a industrial park. Over time the town was at risk of growing vacancies as the economy faltered, when Bitfarms came to move into an abandoned factory the community welcomed them with open arms. The town was hoping that this new industry would help to turn around the flagging economy.

As a incentive to draw in more companies related to the computer industry, Hydro Quebec launched a plan offering a deal for energy concessions. The plan was initial aimed at data centers like technical call centers but companies whose business was in crypto mining were lured in by the plan. Soon the amount of mining companies seeking relocation were overwhelming. Hydro Quebec was now facing a problem on how to accommodate the increased energy draw especially during the winter months.

Bitfarms is one of North America’s largest crypto mining operations. They moved into an abandoned factory and installed about 7,000 computers along with routers and fans. The building generates alot of heat and the large banks of computer also use a massive amount of electrical power.

Once Bitfarms power usage was studied, Hydro Quebec determined that the they consumed more power on a consistent basis than the Montreal hockey arena draws during a sold out event. This usage is only based on the current 7,000 computers and Bitfarms has future designs to grow that number to 14,000.

Source: technologyreview.com

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