Blockchain & Ultra Low-Cost Cryptocurrency Mining
Bird River’s technology business is focused on the application of technologies such as blockchain to identified opportunities within the energy and technology sectors. The company recently announced a joint venture with Divestco, Canada’s largest integrated geoscience provider, that will create a leading commercial cryptocurrency mining centre with the unique advantages of a turnkey data infrastructure, in-house technical expertise and low-cost electricity.
Turnkey Data Infrastructure
The partnership with Divestco brings the cryptocurrency mining operations a pre-existing, fully operational data centre complete with 10,000 square feet of climate-controlled space, racking equipment for up to 3,000 mining rigs, and extensive pre-installed high-speed cabling.
In-House Technical Expertise
Finding the specialized technical resources required for cryptocurrency mining is difficult as the pool of candidates is small. Leveraging the highly-skilled technical personnel that are already in place within the data-intensive Divestco operations, the venture has further invested in more specific cryptocurrency mining research and skills including successful proof of concept trials with sample revenue generated across multiple cryptocurrencies.
Electricity is the single, largest operating expense for running a commercial cryptocurrency mining facility. With its cogeneration facility that converts natural gas to electricity, the venture enjoys the advantage of a reliable, low-cost electricity supply at 1.4 cents per kilowatt hour which is estimated to be 4 times cheaper than the average mining operation in Canada.