The Canadian firm is currently in the process of constructing its substation in Castlegar, British Columbia. This region has an abundance of hydropower, which means setting up a new power substation will require a lot of work and the right expertise. This is also helping create temporary jobs in the town, which is another added benefit of Bitcoin which mining experts often tend to overlook.
As one would expect, building an electrical substation is not cheap. A DMG Blockchain spokesperson confirmed this process will cost millions of dollars. Logistically speaking, they had to build a new access road to haul equipment to its destination. If everything goes according to plan, the facility will be ready for use come September. A final test will be performed by the utility provider to ensure everything works and has no negative impact on the town of Castlegar itself.
Although DMG Blockchain is setting a unique example in this regard, it seems highly unlikely more companies will embrace this approach. Building a substation requires regulatory approval, as such a venture introduces a lot of potential risks. In Castlegar, receiving that approval has seemingly not been much of a problem. Other parts of the world may not be as open-minded toward concepts like these, which is only to be expected.
It is evident that cryptocurrency mining firms must think outside the box to make a positive impact. These firms can offer tremendous benefits to the regions in which they operate, but any good intentions are always overshadowed by concerns over electricity use, among other things. DMG Blockchain is showing that things can be done differently if regulators and policymakers allow such companies to take different approaches.
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