Canadian Bitcoin min operator with a fine of $ 7 million for the construction of power plants without permission-
Canadian Bitcoin min operator with a fine of $ 7 million for the construction of power plants without permission-
Link Global, a Bitcoin min operator in Canada, has to expect up to $ 7 million because he has installed power plants without state permission to operate its min workers. The company has installed several power plants without legal steps and claims that the enforcement of the punishment would mean a fatal blow to finance.
Link Global confrontation with high fine
A Bitcoin mining operator in canada could be Target = "_ blank" href = "https://www.cbc.ca/canada/calgary/link-global-auc-penalties-1.6194653" Rel = "noopener"> punishes up to 7 million US dollar after setting up mining operations without the approval of the government in Alberta. Link Global started operating in Alberta by building four gas generators at a location in Sturgeon County near Edmonton and another mine in Kirkwall. According to reports, none of these sites corresponded to the rule of the Alberta Utilities commission.
The case was started when neighboring communities complained about the noise of the locations. The authorities informed the company at the beginning of the year on August 25 that they did not do their requirements and hired the operation of the two affected mining sites. Each of the locations has been in operation under these conditions for more than a year.
Two types of punishments, CEO calms shareholders
The Alberta Utilities Commission divides the proposed sanctions into two large parts: the first concerns the advantages achieved for the generation of electricity. The institution claims that the damage in this context amounts to two million dollars. The other part has to do with the advantages that are achieved with this performance by mining Bitcoin. Estimates assume that this amount is up to five million.
Link Global denies the fines and explains that they are not based on the company's actual financial reports. It now shifts these Bitcoin mining operations to other locations to comply with the applicable regulations. Stephen Jenkins, CEO from Link Global, told the local media:
Link has followed the instructions of the AUC and is of the opinion that the suggestions of the enforcement authorities are punishing ... I apologize to our shareholders who do not earn this. We will work tirelessly to ensure that the result is positive.
The company and its shareholders who are currently building two new Bitcoin mines in the region have to wait until October 14th, where their fate and the final fine are decided in a hearing.
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