Bitfarms continues to invest in the eastern Townships

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MAGOG – Despite the fall in the value of bitcoin, a cryptomonnaie virtual, the quebec company Bitfarms continues to invest heavily in the eastern Townships. A few weeks after the commissioning of its new computing centre in Magog, the company plans an investment of $ 250 million to Sherbrooke.

In its computing center of Magog, the employees of Bitfarms validate the transactions of bitcoins. The company has invested $ 25.6 million in Quebec in its computing centers in Cowansville, Farnham, Saint-Hyacinthe, and the most recent, that of Magog. In total, it employs 80 workers.

“It ensures that the transactions on the network are safe”, said Wednesday TVA’s New vice-president of operations, Anthony Levesque.

Currently, the building is a little more than 1000 servers, called miners. In a few weeks, when the installation is completed, there will be about 7500. These servers use a technology called chain blocks, that you can compare to a book of records decentralized. They need a large volume of electricity.

“With the electricity that comes in here, we could power a neighborhood of 100 to 150 houses,” said the director general of Volta Electric, Benedict Gobeil.

Wednesday, a bitcoin sold for 5232 $, then it was worth more than $ 25,000 there are barely a year old. A devaluation of 80 %, but who are not concerned about the company.

“We were expecting it to decrease. But at the same time, the number of transactions is on the rise. In addition, we are working to develop other applications which could use this technology”, said the spokesperson of Bitfarms, Bahador Zabihiyan.

“All this requires traceability, such as plane tickets, or transportation of cargo, it can perfectly integrate with the chain of blocks,” continued Mr. Levesque.

Bitfarms is ready to invest $ 250 million in the establishment of a computing centre in Sherbrooke, which would be seven times the size of that of Magog. But, for the moment, the project is on ice, pending the decision of the Régie de l’énergie on the electric tariff for the channels of blocks. “Currently, we pay the price the LG (general Tariff – Customer high-power) as a hundred other companies in Quebec. But if we had to pay the regular rate, it would be very difficult for us to continue our expansion,” said Mr. Zabihiyan.

The Governed should decide in the next few weeks. The computing centre sherbrooke hire in excess of 200 people.