According to the Canadian online newspaper La Presse, Climate Solutions TMI, a subsidiary of Berkshire Hathaway, has launched the production of portable cryptocurrency miners for the Montreal company Kelvin Emtech. Recall that Berkshire Hathaway is controlled by Warren Buffett, who is chairman and CEO of the company.
These “portable miners” are containers with specialized ventilation systems necessary to provide cooling. The message says that they can be deployed anywhere in the world in two days. Each of these facilities consumes 2 MW of electricity and each month generates about $ 1 million in revenue from the cryptocurrency.
Kelvin Emtech and TMI believe that they have a competitive advantage due to the developed by him portable production system. “We wanted it to be easily transported by truck, boat or train. The goal is not to move them all the time, but rather to eliminate the problem of access to electricity. We want to bring these cryptocurrency mines as close as possible to the hydroelectric plants and the remote areas where Hydro-Québec has excess electricity to sell,” explains Fooad Nejad, one of the engineers Kelvin Emtech, who developed the prototype.
To date, Kelvin Emtech and TMI have delivered to their customers a dozen mobile devices created in Montreal. Currently, the order is being executed for another 85, but production was sent to Michigan to meet the business requirements imposed by the Trump administration. “This project created 450 new jobs,” says Alex Katter, TMI’s sales director.
Poison generating income
Recall that the other day Warren Buffett and Charlie Munger at the shareholders’ meeting Berkshire Hathaway made several statements that offend the cryptocurrency. Munger expressed his opinion, saying about Bitcoin: “I detested it the moment it was raised. It’s just disgusting.” He also called the hobby of the crooked currency “noxious poison.” And Buffett, in turn, called Bitcoin “rat poison squared.”
The publication concludes that although the well-known investor Warren Buffett is convinced that the cryptocurrency adventure “will come to a bad ending,” his skepticism does not prevent him from indirectly investing in the sector in Montreal.