Share this article
Bitfury Launches 28MW Canadian Mining Facility
Located in Sarnia, Ontario, the project can be expanded to as much as 200 megawatts.
By Aoyon Ashraf
Updated May 11, 2023, 7:13 p.m. Published Feb 22, 2022, 6:33 p.m.
Crypto tech firm Bitfury said operations have begun at its new Canadian mining site, with capacity expected to reach 16 megawatts by the end of the month, and another 12MW to be completed by the end of May.
- This Sarnia, Ontario, facility joins other Bitfury mining locations in North America, Norway and the Republic of Georgia. In Canada, the company has a partnership with crypto miner Hut 8 to mine digital assets in data centers located in the province of Alberta.
- "North America continues to represent an attractive, strategic market for Bitfury and digital asset mining at large," said Bitfury's Oleg Blinkov, the head of Data Centers Development & Operations.
- Other recent Ontario mining deals include a 140MW project jointly managed by Compass Mining and Red Jar Digital. This agreement was announced in November, with the project projected to be fully up and running early this year.
- Competitor Bitfarms, one of the largest mining companies operating in Canada, currently has most of its facilities located in the province of Quebec.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
More For You
KuCoin captured a record share of centralised exchange volume in 2025, with more than $1.25tn traded as its volumes grew faster than the wider crypto market.
What to know:
- KuCoin recorded over $1.25 trillion in total trading volume in 2025, equivalent to an average of roughly $114 billion per month, marking its strongest year on record.
- This performance translated into an all-time high share of centralised exchange volume, as KuCoin’s activity expanded faster than aggregate CEX volumes, which slowed during periods of lower market volatility.
- Spot and derivatives volumes were evenly split, each exceeding $500 billion for the year, signalling broad-based usage rather than reliance on a single product line.
- Altcoins accounted for the majority of trading activity, reinforcing KuCoin’s role as a primary liquidity venue beyond BTC and ETH at a time when majors saw more muted turnover.
- Even as overall crypto volumes softened mid-year, KuCoin maintained elevated baseline activity, indicating structurally higher user engagement rather than short-lived volume spikes.
More For You
$110 billion in crypto left South Korea in 2025 owing to strict trading rules
While South Korean financial officials acknowledged the need for new rules, disagreements over stablecoins delayed a broader crypto framework.
What to know:
- South Koreans transferred over 160 trillion won to foreign crypto exchanges last year due to domestic regulatory restrictions.
- The delay in implementing the Digital Asset Basic Act has left a regulatory gap, pushing investors to offshore platforms.
- Domestic exchanges face strict regulations, limiting them to spot trading, while foreign platforms offer more complex products.
Top Stories
