@$38322: Bitfury Sets Up a Bitcoin Mining Facility in Canada

Amsterdam-based bitcoin mining firm – Bitfury – announced it will launch a new 28MW digital asset mining site in Ontario, Canada. The facility will launch with an operational capacity of 16MW, while an additional 12MW will be added by the end of May.

Bitfury’s Next Mining Center

The technology company focused on digital asset mining currently has mining sites in Scandinavia, Eastern Europe, Central Asia, and North America. According to a recent press release, it will double down on its North American operations by establishing a site in Sarnia, Ontario.

The new facility will be equipped with the appropriate blockchain software and hardware solutions. It will also employ specialized ASIC chips and other high-performance mining equipment.

Bitfury’s CEO – Brian Brooks – noted that the current demand for digital assets is “exceptionally high.” As such, he asserted that his company will apply “best-in-class infrastructure and proven operational expertise” to serve as a partner of choice to its numerous clients and investors globally.

Oleg Blinkov – Bitfury’s Head of Data Center Development and Operations – said the firm aims to provide mining solutions that “harness the benefits of optimal energy, ultra-high-performance equipment, and unmatched data center management experience.”

In addition, he described North America as a strategic region for Bitfury’s endeavors. “We are excited to deepen our presence here and around the world,” he concluded.

Founded in 2011, the mining company is among the first players in its field. Last year, it revealed intentions to go public by November 2022. With a valuation of over $1 billion, Bitfury has prominent backers such as Mike Novogratz’s Galaxy Digital.

Bitfury’s New Boss

In November last year, Brian Brooks stepped in as the new Chief Executive Officer of the organization. Prior to that, he was in charge of Binance US. After his arrival, Valery Vavilov (Bitfury’s former CEO) became Chairman of the Board of Directors and Chief Vision Officer.

Upon his appointment, Brooks vowed to establish the firm among the European leaders in the digital asset industry. He also pointed out Bitfury’s most notable qualities – its innovative nature and superior technologies.

The American has also served as the Interim Head at the Office of the Comptroller of the Currency (OCC) in the Trump administration. In 2020, he displayed himself as a keen proponent of cryptocurrencies and blockchain technology:

“Blockchain has the potential to connect up, in a decentralized network, all kinds of data. It has the ability to create large, friction-free, decentralized networks of people. There is huge and great promise in blockchain and crypto.”