April 21, 2021

Two Canadian companies start cooperation in the field of "green mining" of bitcoin

Two companies based in Canada, Link Global Technologies, a Bitcoin mining company, and Neptune Digital Assets. specializing in blockchain technology, announced the start of a collaboration with the aim of creating a mining farm that will operate using green energy sources.

In a press release released on March 19, boththe companies confirmed that they have signed a cooperation agreement with the intention to use solar and wind energy, as well as natural gas for the operation of a mining farm. It is assumed that the power consumption will be 5 MW.

The agreement states that the future mining farm will become a joint venture, so that costs and profits will be shared between the companies.

Both Link Global Technologies and NeptuneDigital Assets confirmed that they expect to sign a final agreement in early April. It will be the starting point for the start of construction and the supply of new equipment to the province of Alberta in the west of the country.

In early March, Neptune Digital Assets began preparing new hardware and power supplies for 1,500 ASIC miners, which would allow them to mine roughly 0.7 bitcoin daily.

Neptune Digital Assets CEO Keil Moody said the company is interested in developing the Bitcoin mining industry using green, renewable energy sources.

“We hope that our company will become one of thelarge mining players with lower energy costs and lower carbon emissions. We also look forward to using carbon credits for turnover in this emerging market. ”

Stephen Jenkins, President and ExecutiveDirector of Link Global Technologies, added that they intend to demonstrate that it is possible to mine cryptocurrency using "green energy" in the future.

“In this initiative, we see the beginning of the expansion of activities on the use of renewable energy for mining cryptocurrencies,” he said.

Both companies are unanimously following the new trend,which is the use of renewable energy sources for the extraction of cryptocurrencies. In an area called "green mining", new projects are already being developed.

Canada and the USA: countries where mining farms are often launched

Canada and the United States over timeturned into attractive territories for mining companies. Much work is under way to undermine China's dominance in this area.

For example, the Riot Blockchain firm has chosen the states of North America to create mining farms designed for 11,542 miners Antminer.

Another example is Bitfarms, which inIn early March, it signed an agreement with the Chinese manufacturer of mining equipment MicroBT for the supply of 48,000 miners, which will significantly increase the total volume of Bitcoin mining on the North American continent.