Cryptocurrency Mining Farm Reclaims Abandoned Fishery Plant for Crypto Mining Venture in North-Eastern Quebec

MONTREAL, QUEBEC , CANADA, January 28, 2022 /EINPresswire.com/ -- A working agreement has been struck between Canadian energy provider, Hydro Quebec, the Quebec hamlet of La Tabatière and online high-end electronics retailer, Vipera LLC (Viperatech) in the hopes of offering employment opportunities to a remote community in the Lower North Shore region of north-eastern Quebec.

La Tabatière, frequently used as a trading hub for traders and the fishing industry which offered the community stable employment for decades, has been in negotiations with business development executives at Vipera and secured by Forest Hill chartered broker Dhiren Patel with the intention of repurposing the abandoned fish plant. The property was acquired through a repossession auction from the municipality in 2020, with an agreement made with the provincial energy provider in the hopes of bringing back sustainable job opportunities to the village.

Vipera plans on converting the fairly new factory into an air-cooled cryptocurrency mining facility which will offer colocation hosting to clients for half of the capacity, while the other half will be used to mine internally. With this new endeavour, Vipera will provide tech jobs for select members of the local workforce who will manage and maintain the operation. The total current power capacity of the location is approximately 6 Megawatts.

What is a Cryptocurrency Mining Farm?
A cryptocurrency mining farm is essentially an enclosed, controlled space in which computer servers process network transactions for a specific coin in hopes of being rewarded a fractional fee. The computing power is used to process calculations that confirm transactions on the blockchain, an essential role in the sustainability and security of digital currencies. To scale an operation, crypto farmers install hundreds and thousands of ASIC servers and requires personnel to install, maintain and deploy cooling or dissipation systems to keep generated heat to a minimum. Crypto miners are rewarded with a portion of the digital currency they mine after they secure and confirm one of these transactions and those with the most “hash” (processing) performance will naturally secure more rewards.

Vipera is aiming to build a 6-megawatt farm, which equates to around 2,000 ASIC miners combined. The main warehouse will be equipped with ventilation systems to ensure stable low temperatures are consistently met and additional Bitmain mobile containers with hangar-style canopies are being erected outside the main warehouse to further expand the company's vision. Vipera will begin hiring various members of the community to join the development phase in both full-time and part-time capacities for the facility. The Mayor of the Gros-Mécatina region, Randy Jones, has supported the project with hopes of revitalising a once-thriving economy.

Vipera’s team have been operating several crypto mining farms for the past 5 years from small to medium scale, and their combined knowledge and experience will be of great benefit to the project's success. Operations are slated to begin by Summer 2022, as the ice floes melt and the area is accessible once again by sea for transport of containers, mining equipment, transformers, networking material and HVAC systems. As a remote location only accessible by sea or air, with temperatures varying from frigid to cool throughout the year, Vipera is confident the property selection will be a great complementary fit to other mining operations currently set up under its banner in North Dakota, USA and Dubai, United Arab Emirates and will offer customers interested in colocation hosting competitive rates and options.

Robert Webb
Vipera LLC
+1 877-446-5697
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