Black Rock Petroleum Company Announces Bitcoin Mining Agreement with OMH

News / 17.07.2021

Black Rock Petroleum Company announced that it entered into a binding agreement with Optimum Mining Host Limited Liability Co. (OMH) for hosting and operating up to one million BTC miners. These miners are being relocated from China to Canada by OMH across three Natural Gas producing sites in Alberta, Canada.

The first 200,000 units will be hosted on the site by Planned acquisition by BKRP, a quirk creek gas plant operated by Caledonian Midstream Corporation.

Mining Agreement Contract

The contract period shall be 24 months with an optional, with prior notice, 12-month extension. OMH pays the total cost of supplying electricity. OMH will keep its electronically charged charges of about 2 cents (USD) or $55.55 a month as wholesale pricing for a new payment period. They can pay U.S. dollars or Canadian dollars (CDN). In addition, OMH will pay a fee of 2.19 cents (USD) or $60.00 per miner every month for host and maintenance services.

OMH will give BKRP 0.18 cents or $5.00 to each miner every month for an extra price. Any equipment provided that causes harm to the electrical infrastructure in the facility will be disconnected, and firms will cooperate in solving the problem. Suppose miners cannot remediate defective devices within 15 days. In that case, BKRP will delete them from the network, and OMH shall be authorized to supply substitution devices for the duration of the contract. 

The initial contractual obligation for host capacity will consist of 200,000 machines, then 300,000 machines for use shortly, and 500,000 contractual obligations immediately upon readiness for host capacity.

Caledonian Mainstream is an Alberta company owner/operator of 14 liquid-rich natural gas sources at Quirk Creek. Following the recent announcement, Caledonian is to become a wholly-owned subsidiary of Black Rock. 

Joining Publicly Traded Companies

Zoltan Nagy, Chief Management Officer of Black Rock, joined other public traded companies in the space on making the recent announcement. They include the Canadian Bitcoin Mining & Hosting Company, Riot Blockchain (RIOT), Marathon Digital (MARA), and ARGO Blockchain. 

The company is convinced that its engineers are experts, have the technology and resources that improve productivity. At the same time, they have the cash flow at the plant and hosting and operating Bitcoin miners at energy costs of three cents Canadian per KWH.

With the acquisition of the Caledonian Midstream company-owned and operating a Quirk Creek gas plant in Alberta, Canada, it agreed with OMH to support and operate up to one million bit miners. In addition, black Rock is expanding and diversifying its operations through an additional agreement with OMH to host and operate up to one million bit miners in addition to oil and gas exploration.

avatar
Wayne is a Blockchain enthusiast and expert in crypto trading. Currently, he covers trendy issues on digital currencies.