The MD of Willow Creek Municipal Planning Commission approved the use of an existing building in the Claresholm Industrial Area for a demonstration project for bitcoin mining.
The MPC reviewed and approved an application Jan. 12 by Hydra Pharmaceuticals Inc. to utilize a portion of the existing building for the project consisting of a computer testing centre, a 40 ft. by 8 ft. by 10 ft. sea can to house 102 computers and a natural gas genset.
Willow Creek planning and development manager Cindy Chisholm noted Hydra Pharmaceuticals has a valid permit.
Due to COVID-19 hindering progress on the development, the developer was approved for an additional time extension to Feb. 18, 2022.
The proposed bitcoin mining would operate under the company name Montcrypto Ltd., using a portion of the building.
Outside the building, in the yard a sea can and a natural gas genset will be placed, connecting them, and hooking up natural gas to test if the genset can generate enough electricity to power around 100 computers in the sea can, and those computers can work properly.
A genset is a combination of an engine and an alternator/electric generator.
Inside the building: a 45kVA transformer is used to test computers to be sure fans are working, chips are not overheating when computers are running, software is working properly, Internet can be connected, and to ensure computers can do calculations for on-line block chains.
The developer, proposed in the future, that if the demo project is successful, more computers will be tested for more sea cans and shipped to different places in Alberta.
Or, working together with the MD of Willow Creek, this site could be a three megawatt crypto currency mining operation facility, with two gensets and five sea cans outdoor in the yard, or shelves inside the shop, housing around 1,000 computers.
The project would generate job opportunities locally for operation and maintenance crew for daily routine checks, security, information technology support, and benefitting local hotels, restaurants, grocery stores, gas stations, and other businesses.
Bitcoin is a digital currency that is increasingly being used as a medium of exchange to purchase goods and services.
Mining is the complex process by which bitcoins are earned, by completing complex mathematical calculations with increasing complexity.
The MPC went into closed session at the end of its meeting to discuss all applications.
Upon revering to open session, the MPC approved the application.
