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IBR – Öl und Gas Unternehmen macht Cryptocurrency Mining

-0,55 %
-0,003 EUR

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Cryptocurrency Mining Operation Launched by Oil and Gas Producer Iron Bridge Resources
January 22, 2018

Ebenfalls interessant hinsichtlich Öl und Gas Aktivitäten.
Iron Bridge Resources Provides Operations Update
December 20, 2017
Das eigentliche Geschäft dürfte sich in den kommenden Monaten positiv entwickeln...

"ICT’s pilot cryptocurrency mining project will involve a very modest initial capex investment as a result of its ability to leverage existing infrastructure and excess power generation from IBR’s Elmworth hydrocarbon processing battery, fired by IBR’s clean burning natural gas production, to provide power to the mining control center. The pilot project currently has access to approximately 700 kW of very low cost power with the ability to expand that power generation capability rapidly. ICT’s parent company, Iron Bridge Resources, currently produces enough natural gas to power a 45 MW facility and expects to significantly increase that gas production within the next two months when it brings on-stream additional Montney production. ICT is also in discussions with other natural gas producers to work with them on future commercial projects. As a result, ICT is interested in pursuing industrial scale hosting opportunities."
Auszug news Release December 20, 2017

Share Re-Purchase Program Update
In November, the Company began to re-purchase shares of its common stock under the normal course issuer bid “(NCIB”). To-date, approximately 880,000 shares have been purchased in the open market pursuant to the NCIB for approximately $585,000 in aggregate (average re-purchase price of $0.66/share). All shares that have been re-purchased will be cancelled
and eliminated from the existing outstanding share count.
The number of future share re-purchases under the NCIB, the timing of purchases, and the price at which the Common Shares will be purchased, will be determined by the Company in its discretion and will depend on future market conditions.
‘Energy hunters’: Bitcoin miners search for cheap, innovative energy sources
January 28, 2018



Oil and gas explorer Iron Bridge Resources Inc., for one, recently announced plans to launch a cryptocurrency mining division that will use excess energy from its oil and gas operations in northern Alberta.

Chief executive Rob Colcleugh said the company is planing to pilot a roughly 600 kilowatt crypto-mining operation to make use of the high Bitcoin prices and extremely low natural gas prices.

“The economics at these levels are pretty astounding,” he said.

Colcleugh said he’d look to create a partnership that could offer power costs “orders of magnitude” less than provincial utility rates.
#1 Stock with the most net insider buying over the past 7 days:

TSX Stocks with Net Buying Net Insider Buy Vol.(000's) Latest Quote
1. Iron Bridge Resources (T:IBR) 1,689,500 $0.56
What's fuelling the potential bitcoin mining boom in Canada
Power companies in Manitoba and Quebec have been inundated with inquiries from mining companies
By Erin Collins, CBC News Posted: Feb 28, 2018 4:00 AM ET


Auszug aus dem Artikel:

Alberta's energy sector is also watching the rise of bitcoin mining in Canada closely.

Inside a storage closet at the headquarters of Iron Bridge Resources in Calgary, a line of bitcoin mining rigs hums away on a table. The small oil and gas company is testing the rigs for use at its oil and gas facility near Grande Prairie.
'Natural fit'

CEO Rob Colcleugh plans to use the natural gas that his operation generates as a byproduct of oil extraction to mine for digital currency and maximize potential revenue.

"The cryptocurrency business was attractive because it uses quite a lot of electricity and that electricity can be generated off of natural gas," he says. "We do that anyway, so it was a natural fit."

Colcleugh plans to power about 170 mining rigs. But his real goal is to provide power to a much larger mining operation transplanted from China, a deal he hopes to finalize soon.

China is looking to curb the number of digital currency mines operating in the country because they use so much power, he says, which is why some of those mining firms are looking to expand or relocate to Canada.

At least six Chinese companies have contacted Colcleugh about hosting mining operations, he says, as have a few American firms.

Rewards can be great with cryptocurrency investing — but so can the risks

He says most oil and gas executives are initially baffled when he explains the concept of hosting bitcoin mines, but he says their attitudes change pretty quickly when they learn about his Grande Prairie project.

"I have an awful lot of coffees set up afterwards and they want to know the details and they want to know the math."
Canada-based Energy Company Catches the Bitcoin Bug; Set to Start Bitcoin Mining
March 10, 2018 14:30


"Unlike other firms that entirely abandoned their niche and joined the blockchain bandwagon, Iron Bridge is not leaving the gas industry. Instead, they will use its yet to be created subsidiary, Iron Bridge Technology, to carry out its bitcoin mining operations.

GMP FirstEnergy vice-chairman and co-head of energy sales and trading Ted Boehm opined that the company’s move is a smart one because even if mining one bitcoin requires 215-kilowatt hours of electricity, Iron Bridge will still earn approximately $49 per Mcf for its gas."
"The author thinks some of the people criticizing the move might not understand what cryptocurrency mining entails.

If Colcleugh and his company can match their abundant energy resources with standard mining equipment, they will surely hit the moon within a relatively short period."


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