Bird River Resources Inc. and Divestco Inc. announced a joint venture to create a high-volume, cost-effective commercial cryptocurrency mining operation based in Calgary, Alberta using existing infrastructure. This follows a previously announced joint cogeneration agreement under which the two companies have joined forces to produce low-cost electricity by converting natural gas to electricity. The cryptocurrency mining operation will benefit with an estimated cost of electricity at approximately 1.4 cents per kilowatt hour compared to the Canadian industry average cost of electricity at approximately 6 cents per kilowatt hour.

Under the agreement, Bird River will pay for 100% of the capital cost of acquiring mining rigs for cryptocurrency mining operations. Divestco will provide the infrastructure for the cryptocurrency mining activity including climate-controlled space, racking equipment for up to 3,000 mining rigs, and personnel with specific expertise in crypto mining. Divestco will operate the data centre and all the crypto data mining rigs.