Connect with us

News

From China 1 Million Bitcoin Mining Systems Might Be Shipped To Canada

With the support of the Black Rock Petroleum Corporation, the Chinese Bitcoin mining outfit Optimal Mining Host is apparently transferring 1 million Bitcoin mining rigs all the way to Canada over the next 24 months.
In the next 24 months, 1 million Bitcoin mining rigs will be relocated to Canada due to China’s crackdown on cryptocurrency mining activities. Several enterprises have already been shut down and are seeking for new locations.
The People’s Bank of China wants to move away from the volatile cryptocurrencies, which is one of the key reasons for China’s decision to stop cryptocurrency mining operations.
The People’s Bank of China stated in an official statement that: Virtual currency trading acts undermine the normal economic and financial order, foster the risk of unlawful and criminal activities such as illegal cross-border asset transfer and money laundering, and gravely infringe on the right to privacy.
Mining operations have already been halted in some areas, and graphics card prices in China have begun to fall.
The cooperation between Optimum Mining Host and Black Rock Petroleum Company demonstrates the large scope of prior mining operations in China, as well as the difficulties that corporations will have in moving all of the equipment out of China.
Black Rock and Optimum Ming Host detail how many mining rigs will be used and where they will be placed in the statement.
A total of one million mining rigs will be installed in three locations across Alberta, Canada.
Caledonian Mainstream (“Caledonian”) is an Alberta-based company that owns and operates 14 producing liquids-rich natural gas wells at Quirk Creek. Upon conclusion of the recently announced transaction, Caledonian will become a wholly owned subsidiary of Black Rock, and Black Rock will use the site to host and operate up to 200,000 of the one million bit miners with 300,000 mining machines every year.
Although the statement does not indicate how the cost of running all of the bitcoin mining rigs will be split, it appears that the two companies will split the cost.
The agreement is covered in detail in the linked statement.
The Black Rock Petroleum Corporation website, according to Tom’s Hardware, is quite simple and primarily uses stock photos.
Zoltan Nagy, the company’s creator, holds the positions of “President and Principle Controlling Executive Officer” as well as “Financial & Accounting Officer, Treasurer, Secretary, and Director.”
Both executives on the website’s about us section don’t have headshots and instead use a stock photo.
It is undoubtedly feasible to shift one million systems from China to Canada, but whether or not this occurs is another matter.
All we have to do now is wait 24 months to see if the 1 million mining rigs have arrived in Canada.

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Must See

More in News