DMG has Announced that its Mining Facility is now Powered by a 60 Megawatts (MW) Power Generating Substation
In its bid to increase its market shares in the Canadian crypto mining industry, a Canadian based blockchain company, DMG announced that it now has the capacity to generate of about 60 megawatts (MW) of electricity from its 85MW substation, situated in western Canada. The company made it known that the power from this substation will be used to power its new crypto mining facility.
DMG now has the Second-biggest Mining Operation
A recent report has made it known that this substation is the largest of its kind in this region. The power generated from this substation will be used to power DMG’s new mining facility situated on 34-acres of land. A recent report made it known that the power generated from this substation is more than enough to power about 50,000 homes conveniently.
The 27,000-square-foot cryptocurrency mine has been reported to be the second-biggest mining operation in Canada.
Importantly, DMG has gone high and above to make sure that its energy source is clean. This way, the company will not be causing damage to the environment directly or indirectly.
The Chief Executive Officer of DMG, Dan Reitzik has also made some comments as regards the news of its power supply capacity.
He stated that:
“DMG now proudly owns one of the largest, most cost-efficient, bitcoin mining facilities in North America,”
He further stated that:
“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.”
Low-cost Energy
Through the development of the substation, which took the company approximately one year to construct, DMG will have access to low-cost energy. This, in turn, will lead to an increase in its profit margin. It will also be able to rent out more mining spaces to interested individuals and companies. Once the operation becomes fully functionals, the substation is expected to place DMG toe to toe with the leading mining operation in the country, Hut8, and Bitfury.
