Tuesday, 02 June 2020

‘Everything is in front of us’: Cryptocurrency spurs Quebec regional economy

Emiliano Grodzki moves his right hand across the front of a series of small, rectangular machines, each fitted with a fan blowing warm air inside a former metal factory in Quebec’s Eastern Townships.

Grodzki and the rest of the Bitfarms team modified the building to house two giant opposing walls of shelves holding thousands of powerful computing systems built for a single purpose: mining for digital currency.

Known as hashing, the hunt for cryptocurrency is essentially an exhaustive attempt by a computer to solve a mathematical problem. Every second, each computer in Bitfarms’ factory in Magog, Que., conducts 13.5 trillion attempts at solving a math problem.

Grodzki, 42, an entrepreneur from Argentina and Bitfarms’ chief strategy officer, stops his hand in front of one machine that is unlike the others: It’s blowing cold air.

“This one is not hashing,” he says.

source: globalnews.ca
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