Toronto-based Bitcoin mining company Hut 8 has announced the completion of its second mining facility in Canada on July 16, claiming to have become the world’s “largest publicly-traded” operator by capacity.
In a press release, Hut 8 revealed its Medicine Hat farm had been completed ahead of its September deadline, joining its existing operation in the city of Drumheller.
Launched through a partnership with BitFury, which provided the company access to mining hardware and other necessities, Hut 8 has mined around 1,900 Bitcoin (BTC) since its original launch in December last year, the press release notes.
BitFury and Hut 8’s comparative success further diversifies the Bitcoin mining market, which continues to see dominance from the Chinese-owned Bitmain.
Canada has become a challenging environment for large-scale cryptocurrency miners this year.
The event attracted over 300 attendees and a diverse array of exhibitors, according to conference organizers, signaling continued interest in the cryptocurrency despite past criticism of Bitcoin by Canada’s Prime Minister and tighter exchange regulation.
Due to an uptick in Bitcoin scams, Canadian police have launched a public awareness campaign to educate potential victims of the danger. In Regina, the police have reported that an increasing number of people are getting scammed — even though many don’t know what cryptocurrency is.
A judge of the Nova Scotia Supreme Court has agreed to a request to move the ongoing QuadrigaCX case from Halifax to Toronto, Ontario. According to a report by Global NewsSeptember 10, 2019, the transfer would drastically cut down expenses as most of the victims are based in Toronto.
In line with Halifax’s request, Ernst & Young, a “Big Four” multinational professional services firm in charge of QuadrigaCX’s court proceedings has asked a Nova Scotia Supreme Court judge to transfer the case to Toronto, to save costs, according to a local news source, The Star on August 28, 2019.
Untraceable’s Futurist Conference is the largest and most high profile blockchain event in Canada held on August 13-14 2019 in Toronto. It brings together over 2300 attendees from around the globe to discuss the future of technology including blockchain, artificial intelligence, and other emerging tech that will disrupt our future. Futurist is held at Rebel […]
