Mysterious Cryptocurrency Facilities in Northwest New Brunswick

These buildings were built in secret after GPU One purchased the private land two years ago, explains the mayor of Saint-André, Marcel Levesque.

Although the city was aware of the company’s activities, the whole matter remained a mystery to the people in the community.

The owner company has yet to announce its intentions, and it is still in the process of being built. single GPU Ask the city council to exercise discretion Until the company officially opens its doors, says Mr. Lévesque.

For two years, passers-by had to use their imaginations to guess what could be hiding behind these walls.

The rural community of Saint-André

photo courtesy

The veil was finally lifted a month ago, when the municipality of St. Andre learned that the land – along with its data center – would be sold to a Vancouver-based crypto company called Hive Blockchain Technologies.

When anyone sells a property, lawyers always call the municipality for water, sanitation and all that […] That’s when we learned, a month ago, that it was sold outMayor says.

land sale deal Blockchain cell Its value is estimated at $25 million.

The Vancouver-based cryptocurrency firm has data centers like the one it just acquired in Saint-André in parts of Canada, Sweden and Iceland.

What is cryptocurrency?

A digital currency in which cryptographic techniques are used to regulate the generation of monetary units and verify the transfer of funds, and operates independently of a recognized central bank.

Bitcoin is the most popular cryptocurrency.

These data centers contain huge numbers of computers that act as digital currency checkers and confirm customer transactions, the company’s website reads.

Abstract structure showing the Blockchain system.

Bitcoin is a currency, and Blockchain is the technology that allowed the creation of this currency by creating a decentralized transaction system.

Photo: gettyimages / istockphoto / matejmo

cloud des devises numériques nouvellement frappées comme le Bitcoin et l’Ethereum”,”text”:”HIVE possède des centres de données de pointe alimentés par de l’énergie verte […] qui produisent en continu sur le cloud des devises numériques nouvellement frappées comme le Bitcoin et l’Ethereum”}}” lang=”fr”>HIVE has state-of-the-art data centers powered by green energy […] who continuously produce on clouds Newly minted digital currencies like Bitcoin and Ethereumexplain Blockchain cell.

The company adds that the area was an ideal place to install this data center, also called cryptomine, as the machines had to be kept in cool places to avoid overheating.

The interior of a data center.

Inside the data center (archive).

Photo: Radio Canada / Benoit Jobin

There was also an interesting site in the Miramichi districtAs Mayor Marcel Levesque explains. But with the New Brunswick Power Trail running straight, not to mention the nearby Grand Falls Generating station, and reasonable municipal taxes tipped the scales.

What are the economic benefits of the region?

Cryptomines require a large number of computers, but not a large number of workers.

Mr. Lévesque believes that this $25 million sale will only lead to three or four stable jobs in the region.

Marcel Levesque gives an interview in the town hall rooms

Marcel Levesque, mayor of the rural community of Grand Falls, is hoping to see some open positions in the area.

Photo: Radio Canada/Bernard Lebel

But the mayor is still happy about it and thinks this is excellent news for the townspeople.

It’s like I tell people, it’s a guaranteeHe said. When you have a development and new things to come, it is always positive in all aspects. It gives us revenue on water and sewage and taxes we didn’t have before.

These installations also have a reputation for being energy-intensive, since many computers run non-stop.

Dominique Couture, a spokeswoman for New Brunswick Power, points out major industrial clients [tels que Hive Blockchain] An important source of income to the state institution.

NB Power wants to increase residential property prices by 2.33% on April 1st.

For bitcoin alone, crypto cores require an annual consumption of 121.56 TWh worldwide (archive).

Photo: Radio Canada

Currently, this is the only cryptocurrency miner from this scale that we operateMs. Couture argues. We are ready to help industrial companies and small businesses […] By offering them energy solutions to meet their current and future needs.

For bitcoin alone, crypto centers require an annual consumption of 121.56 TWh worldwide, according to a tool developed by the Cambridge Center for Alternative Finance (CCAF).

Hive Blockchain did not respond to Radio Canada’s inquiries.

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