DMG Blockchain Solutions Inc. recently announced that the firm has begun the installation of an 85-megawatt (MW) capacity substation. The firm which is planning to extend its crypto mining facility will use this substation for powering the new facility.
The New Substation
Blockchain Solutions Inc. is a Vancouver-based firm which is planning to expand its power offerings by connecting the 85MW transformer and electric substation to the utility power grid when completed. It plans on offering an addition of products and services to the current list of Mining-as-a-service (MAAS), forensics and blockchain analytics.
As the clients desire to profit from mining without owing the hardware requires, many companies are setting up mining rigs. Due to it, MAAS products have gained an increasing popularity among the masses. The market already has Bitmain and Genesis Mining that offer Maas, despite which DMG aims at a significant market share post its launch of 85MW substation.
The new substation is expected to become fully operational in September 2018 after which it would “power the expansion of DMG’s flagship cryptocurrency mining facility” and increase the firm’s “hosting capability by more than 20 times.” DMG’s COO Sheldon Bennett said,
“Building and managing a crypto mining operation at an industrial scale requires a world-class supply chain as well as direct access to local government and electricity providers. Our management team at DMG is unique in that we have the experience, the relationships, and the capital backing to do this successfully.”
DMG Blockchain Solutions
Formerly known as the Digital Mint Group, DMG Blockchain Solutions Inc. is a blockchain platform that mines public blockchains and uses “permissioned blockchain technology” to address the fraud and friction that plagues the movement of value through supply chains.” It is a Blockchain based firm which manages, operates, and develops end-to-end digital solutions to monetize the blockchain ecosystem.