Toronto: CryptoStar Corp., a cryptocurrency mining and data centre operator, announced April 6 that it had signed a letter of intent with an Alberta-based private energy company effective April 3 for up to 120 megawatts of power at rates that were among the lowest in North America. CryptoStar and the Alberta partner planned to execute the first power supply agreement for the first 20 MW of power within the next 14 days.
The Alberta partner currently possesses, controls or has access to three power generation sites in Alberta and is currently permitted to generate and supply an aggregate of 30 MW. The partner intends to, upon approval by applicable regulatory authorities, generate and supply an aggregate of 120 MW of power to CryptoStar.