According to Mogo Finance Technology, cryptocurrencies will be the future of financial transactions. With this in mind, Mogo Finance plans to invest in bitcoin mining. The Mogo Blockchain is a partnership between Mogo Finance Technologies and the Vancouver-based firm DMG. The two companies have an interest in opening up a bitcoin mining operation in British Columbia.
What to Know About the Mogo Blockchain
The Mogo Blockchain will be a bitcoin mining facility that can serve as a bitcoin hosting service through (mining as a service) Maas. Other than hosting and mining bitcoins, the development of the blockchain network will be a priority at the facility. Mogo Blockchain services will start by leasing one thousand bitcoin mining rigs. The Blockchain facility DMG is developing will be operational by the end of this quarter.
The launch of the Mogo Crypto mine is aiming to make cryptocurrencies more accessible to individuals residing in Canada. Mining rigs in use at the Blockchain subsidiary will be maintained and serviced by DMG using the company’s MaaS model. According to Mogo Finance Technologies Inc., the launch of Mogo Blockchain is the first step to make bitcoins more accessible to Canadians willing to buy, sell or trade the cryptos.
Rolling Out the Mogo Blockchain
DMG is currently running two bitcoin mining facilities in Canada. The new Blockchain mining facility is scheduled to be in operation by the end of the first half of 2018. Information made available by DMG and Mogo Finance suggests that the Mogo Blockchain will be the largest bitcoin mining facility in Canada.
Clients using Mogo Blockchain will be able to sell and purchase bitcoins from their Mogo account. DMG’s statement reveals that its partnership with Mogo Finance Technologies is in line with its objective of making cryptocurrencies accessible to the Canadian public.
The Canadian government has been friendly towards the bitcoin economy explaining why global bitcoin investors are setting up shop in Canada. It is in the public domain that a Chinese mining firm is planning to start operations in Canada.