DMG Blockchain Solutions Inc. has announced that it has begun installation of its own 85-megawatt capacity transformer and electrical substation, which will power the expansion of DMG’s flagship cryptocurrency mining facility.
A diversified blockchain and cryptocurrency company, DMG expects the substation to be connected to the utility power grid and commissioned for full operation in September 2018, at which time, it will have 60 megawatts available for energizing mining rigs.
This facility will become DMG’s flagship crypto mining operation in Canada and further expand its mining-as-a-service (MaaS) capacity. Deployment of its new 85-megawatt substation will increase DMG’s hosting capability by more than 20 times.
Sheldon Bennett, DMG’s COO said building and managing a cryptomining operation at an industrial scale requires a world-class supply chain as well as direct access to local government and electricity providers. He added that the management team at DMG is unique in that they have the experience, the relationships, and the capital backing to do this successfully.
When completed, DMG’s flagship mining facility will be among the largest in North America.
DMG’s crypto mining facilities and power access are used for its Mining-as-a-Service (MaaS) clients and for DMG’s own use.
This hybrid approach allows DMG to scale at a faster pace than a pure mining model by balancing the capital requirements and investor returns of the traditional mining model with the low capital needs and steady revenue generation of the MaaS model.