Medicine Hat says it will use the opportunity to diversify economy. Hut 8, which say it will start construction right away, will employ 42 people in the new mining facility.
Hut 8 Mining Corp, which has been expanding its cryptocurrency mining operations in Canada, entered a deal that will see it receive 42 megawatts of power from the City of Medicine Hat.
The company said the signing of the power supply deal and land lease deal marked a great movements towards the realization of rolling out their BlockBox Data Centres in low-cost energy jurisdictions.
Bitcoin Mining facilities
The company plans to construct Bitcoin mining facilities near city’s new Unit 16 power plant. Since it will start mining cryptocurrency in September this year. However, the additional power will see its power capacity increase to 60.7 megawatts.
The company has mined 750 Bitcoins so far by Tuesday this week, from its data centers based at Drumheller, Alta. The city hopes to use the deal to diversify economy according to Medicine Hat Mayor Ted Clugston. The company has been very welcoming to Medicine Hat. However, it will start construction of the mining facility at Medicine Hat right away.
The operation will employ a total of 42 workers including electricians, general laborer’s, systems technicians and security staff.
Medicine Hat says it was hit by oil and gas decline but has made huge priority. Being the generator and vendor of its own city electricity puts the city in a unique position, the company said.