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DMG Blockchain (OTC:DMGGF) mining facility now online

Tony Zerucha

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DMG Blockchain Solutions (TSXV:DMGI) (OTC:DMGGF) announced this week it has successfully energized up to 60 megawatts of its 85 megawatt crypto mine. 

DMG’s 27,000 square foot crypto mining-as-a-service (MaaS) operation sits on 34 acres in British Columbia and uses clean hydroelectric power. It will not have any impact on the power needs of the local community, the company said in a release.

“In Boundary Electric’s 71 years of business, we have never seen a demand in the electrical manufacturing industry quite like what is being generated from the crypto space,” Boundary Electric CEO Dave Evdokimoff said. “The opportunity to collaborate with DMG on projects has brought to the forefront their commitment to creative solutions facing their industry.”

The power that DMG is bringing to its new facility is enough to power a city of 50,000 homes, but is independent from the local community grid, DMG CEO Dan Reitzik said. 

“DMG now proudly owns one of the largest, most cost-efficient, bitcoin mining facilities in North America–and we’re doing it in a responsible way with the local community. It was an audacious undertaking, but DMG’s executive team has been in the mining space for years, and we have the know-how and connections with the utilities and government agencies to pull it off.” 

 Simon Padgett has stepped down as a DMG director.

Tony Zerucha

Tony Zerucha is an alternative finance journalist with more than seven years experience in the space. The author of more than 1,000 articles, Tony was named LendIt's 2018 Journalist of the Year.

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