- Black Rock Petroleum Company (OTCPK:BKRP) has entered into an agreement to host and operate up to one million bitcoin miners in Alberta
- Experts claim that this proposal could represent 1/3 of global bitcoin mining capacity
- The miners are to be deployed across three Natural Gas producing sites in Alberta
- The first 200,000 units are to be hosted on the site of the Quirk Creek Gas plant operated by Caledonian Midstream Corporation
- Caledonian Midstream, acquired by Black Rock in early July, will become a wholly-owned subsidiary of Black Rock
- 300,000 miners will be deployed at a second site in Alberta and 500,000 at a third site
- Black Rock Petroleum is an oil and gas exploration-stage business
- Black Rock Petroleum Company (OTCPK:BKRP) is up 11.58 per cent, trading at US$3.18 at 12:10 pm ET
Black Rock Petroleum Company (OTCPK:BKRP) has entered into a bitcoin mining agreement with Optimum Mining Host (OMH) Limited Liability Co.
As a result of China’s recent crackdown on bitcoin mining, up to one million bitcoin miners could be relocated from China to Canada by Optimum to be deployed across three natural gas-producing sites located in Alberta.
The first 200,000 units are to be hosted on the site of the Quirk Creek Gas plant operated by Caledonian Midstream Corporation, a subsidiary of Black Rock Petroleum.
The initial term of the agreement is for 24 months with an optional 12-month extension. OMH will pay the electrical supply costs and maintenance fees.
The initial contract commitment is for 200,000 machines to be deployed, with the deployment of up to 800,000 additional miners when the host capacity is ready.
Caledonian Mainstream, an Alberta-based company and the owner of 14 natural gas wells at Quirk Creek was acquired by Black Rock in early July. Black Rock will utilize the Quirk Creek site to host and operate up to 200,000 of the one million bit miners with 300,000 mining machines to be deployed at the second site in Alberta and 500,000 at a third site to be identified shortly as negotiations are concluded.
Black Rock Petroleum Company is an oil and gas exploration-stage corporation that’s expanding and diversifying its operations by entering the lucrative crypto mining sector.
Black Rock Petroleum Company (OTCPK:BKRP) is up 11.58 per cent, trading at US$3.18 at 12:10 pm ET.