Crypto Miners in Canada CryptoGlobal Hut 8 Mining Corp Hut 8,...

Crypto Miners in Canada



CryptoGlobal

Hut 8 Mining Corp Hut 8, which is backed by crypto-mining giant BitFury Group Ltd

Operating on four sites in Quebec, Bitfarms Ltd. employs 80 people

Arbitrade, an Ontario-based cryptocurrency company

DMG Blockchain Solutions, is putting the finishing touches on its new mine

Backbone Hosting Solutions Inc

Beijing-based Bitmain Technologies Ltd., the world's biggest Bitcoin mining organization, operates in Quebec

BTC.Top, the largest mining collective, is opening a facility in Canada

Amsterdam-based Bitfury Group Ltd.

The largest Bitcoin miner outside of China has set up 58 megawatts of data centers there, a third of its global capacity, according to an investor presentation.



At least 50 blockchain and crypto-related firms are set to list in Canada this year



The company, known as Bitfarms, says it's earning more than $250,000 a day from minting Bitcoin, other virtual currencies and fees at four sites in the province.


By the end of the year, Bitfarms plans to expand its mining capacity nearly seven fold to 187 megawatts, while DMG expects to have 160 megawatts across three sites in B.C. By mid-2018, Hut 8 will have acquired nearly 60 megawatts of Bitfury's Canadian capacity and the firms jointly could build out "hundreds of megawatts" more in as little as 18 months, says Hut 8's Clark.
Meanwhile, DMG's CEO Dan Reitzik says he's fielding calls from Chinese miners, desperate to get millions of dollars in mining rigs out of the country.
"If Canada plays its cards right, it could become the crypto mining capital of the world," said Reitzik. "It basically could go to the Chinese cryptocurrency industry and say, 'Welcome."'