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Access to cheap electricity can make or break a cryptocurrency mining operation, and firms angling to strike it rich in an industry where delays can and will cost digital money will do just about anything to get it, as soon as they can.
The latest move in the quest for bargain-basement kilowatt hours, as quickly as possible: building out local power grids with bespoke electrical substations.
Canadian company DMG Blockchain is building what it hopes will be a fully-functioning substation near the Southern British Columbia town of Castlegar, which is electrified by hydro power. When I spoke to Steven Eliscu, who leads corporate development for DMG, over the phone, he told me that building the substation costs millions of dollars and required the company to build its own access road to haul equipment to the site. The goal: to plug it into the local grid and have it power DMG's expanded mining operations by September.
"At the end of August we'll go through a commissioning process where the utility will test everything as a completed substation and make sure that the town doesn't blow up when we flip the switch," Eliscu told me over the phone.
Source: MotherBoard
(Score: 4, Interesting) by Gaaark on Friday August 03 2018, @11:58PM
i see residentials are charged at a certain rate up to a certain usage, then they are charged more: just charge these guys the same thing but just keep raising the rates for how much they use. At a certain point, they will reach a break even/loss rate and will have to stop or lose money.
--- Please remind me if I haven't been civil to you: I'm channeling MDC. ---Gaaark 2.0 ---