By Collin Gallant on May 8, 2018.
Medicine Hat News
A cryptocurrency firm is on track to be operating in Medicine Hat next month, according to a Monday release from Hut 8 Mining, which further states two black box super computers and substantial power system components are already in place.
Work on the 11-acre data processing facility in Medicine Hat began March 10 next door to the city’s recently constructed Unit 16 power plant on Box Springs Road.
A company update states the work is now “rapidly advancing” toward having the site ready to accept 16 component stations starting as soon as next week.
Final grading, an access road and parking lot area could be complete next week as the computing equipment and pre-fabricated service buildings begin arriving on site, a release states.
Site servicing for power and fibre optic cables is 90 per cent complete. About 550 screw piles will be put in at the site, and staged installation will take place until the end of the month.
Construction personnel on the C$100 million project is expected to peak at 100 in the third quarter of the financial year.
Another 24 black boxes are slated to be delivered in September.
The company says half the 40 full-time operating positions have been filled and training is set to take place at its Drumheller facility.
Combined, the company will have 57 black boxes when both sites are operating.
The City of Medicine Hat announced on March 19 that it had signed a power supply agreement for 42 megawatts of electricity and lease for the land.
The components, known as Black Box data centres, are essentially super computers that search the internet to provided logistics support and accounting verification for transactions made with Bitcoin and other cryptocurrencies.
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