Canada-based Energy Company Catches the Bitcoin Bug; Set to Start Bitcoin Mining
March 10, 2018 14:30
https://btcmanager.com/canada-based-energy-company-catches-bitcoin-bug-set-start-bitcoin-mining/ "Unlike other firms that entirely abandoned their niche and joined the blockchain bandwagon, Iron Bridge is not leaving the gas industry. Instead, they will use its yet to be created subsidiary, Iron Bridge Technology, to carry out its bitcoin mining operations.
GMP FirstEnergy vice-chairman and co-head of energy sales and trading Ted Boehm opined that the company’s move is a smart one because even if mining one bitcoin requires 215-kilowatt hours of electricity, Iron Bridge will still earn approximately $49 per Mcf for its gas."
"The author thinks some of the people criticizing the move might not understand what cryptocurrency mining entails.
If Colcleugh and his company can match their abundant energy resources with standard mining equipment, they will surely hit the moon within a relatively short period."