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As a result of China's recent crackdown on [bitcoin](/redirection.asp?article_id=1152252&company_id=25880&redirectaddress=https://taxlawcanada.com/guide-cra-bitcoin-taxation-canada/) mining, in July 2021, Black Rock Petroleum Company, a Nevada corporation, announced that it entered into an agreement with Optimum Mining Host Limited Liability Co. to relocate up to one million Bitcoin miners from China to Alberta, Canada. They agreed to deploy these miners across three natural gas producing sites in Alberta. The first 200,000 units will be relocated to the Quick Creek Gas plant, operated by Caledonian Midstream Corporation. Experts estimate that this agreement could represent up to 1/3 of global bitcoin mining capacity. This article will discuss the tax...
