Skip to content
The firm said it would use the proceeds of a public listing to buy more oil wells, increase power production and help pay for more than US$100-million worth of acquisitions. (Bloomberg)
Talking point: New West extracts oil and mines Bitcoin, both volatile commodities. Like other producers of power, energy resources and cryptocurrency, it’s hoping to pivot to capitalize on the booming demand for AI processing power and high-performance compute. New West currently runs its Bitcoin operations on about 15 MW of energy, the capacity of a small-ish AI data centre. The firm is currently profitable, but sees an opportunity to raise from U.S. investors looking to jump into the AI infrastructure market, said CEO Sean McDonough.
Loading...
Thanks for sharing!
You have shared 5 articles this month and reached the maximum amount of shares available.
CloseThis account has reached its share limit.
If you would like to purchase a sharing license please contact The Logic support at [email protected].
CloseGift the full article!
You have gifted 0 article(s) this month and have 5 remaining.
Recipients will be able to read the full text of the article after submitting their email address. They will not have access to other articles or subscriber benefits.
Most Popular This Week
In-depth, agenda-setting reporting
Great journalism delivered straight to your inbox.
News
Banks must share account numbers and product data under draft open banking rules
Briefing
Carney plans to discuss US$135B defence bank with new U.K. prime minister
B.C. nearing federal MOU of its own as talks continue on Alberta’s West Coast pipeline
Quebecor urges CRTC to block Corus restructuring as part of takeover push
Best business newsletter in Canada
Get up to speed in minutes with insights and analysis on the most important stories of the day, every weekday.
Exclusive events
See the bigger picture with reporters and industry experts in subscriber-exclusive events.
Membership in The Logic Council
Membership provides access to our popular Slack channel, participation in subscriber surveys and invitations to exclusive events with our journalists and special guests.
