Canadian Bitcoin miner faces $ 7 million fine for installing power plants without permission – Bitcoin News

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Link Global, a bitcoin mine operator in Canada, faces a fine of up to $ 7 million for installing power plants to run its miners without government permission. The company has installed several power plants without following legal procedures and claims that if the sanction is applied it will be a fatal blow to its finances.

Global link in the face of a heavy fine

A bitcoin mine operator in Canada could be fined up to $ 7 million after setting up a mining operation with power plants without getting permission from the Government of Alberta. Link Global started operations in Alberta by installing four gas generators at a site in Sturgeon County, near Edmonton, as well as another mine in Kirkwall. According to reports, none of these sites complied with the Alberta Utilities Commission rule.

The case was sparked when neighboring communities complained about the noise the sites were creating. Authorities informed the company that it had failed to comply with their demands earlier this year, on August 25, and halted operations at the two mine sites involved. Each of the sites had been operating for over a year under these conditions.

Two types of sanctions, the CEO reassures shareholders

The Alberta Utilities Commission divides the proposed penalties into two main parts: the first relates to the benefits obtained for the production of electricity. The institution alleges that the damages in this regard amount to two million dollars. The other part is about the benefits obtained for mining bitcoin using this power. This amount is estimated at five million.

Link Global disputes the fines, explaining that they are not based on the company’s actual financial reports. It is now relocating these bitcoin mining operations to other locations, to comply with current regulations. Stephen Jenkins, CEO of Link Global, told local media:

Link has followed the orders issued by the AUC and believes that what law enforcement personnel are proposing is punitive… I apologize to our shareholders who do not deserve this. We will work tirelessly to ensure that the result is positive.

The company and its shareholders, who are building two new bitcoin mines in the region, will have to wait until October 14, when their fate and the final fine will be decided in court.

What do you think of Alberta’s power plant regulations? Tell us in the comments section below.

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