Blockchain technology firm Bitfury has unveiled a new cryptocurrency mining data center in Ontario, Canada, as part of an expansion plan in the region.
The facility would run at 16 megawatts by the close of the month and will be upgraded to 28 MW in May. The firm notes that it could further be boosted to 200MW.
Bitfury’s Head of Data Center Development and Operations, Oleg Blinkov, notes that the company is looking to increase its presence in North America. The mining firm is also planning an IPO to fund the expansion plan.
Bitfury operates other mining sites in Canada, including Alberta and Drumheller regions. The firm teamed up with Hut 8 Mining to deploy the miners.
Canada has remained an ideal location for crypto mining, factoring in the cold climatic conditions that enhance energy efficiency.
The announcement comes as Canada warms up to the crypto sector. The Member of the House of Commons, Michelle Remper Garner, introduced a bill to create a regulatory policy that promotes the sector.