Link Global Faces $7 Million Fine for Setting Up Unauthorized Power Plants

Link Global, a Canadian Bitcoin mine operator is facing fines to the tune of about $7 million for setting up power plants in the area, without approval from the government. However, having already installed several power plants without following due legal protocol, the company has admitted that it’s finances will be greatly distressed if the penalty is upheld.

Link Global Faces Serious Penalty

As it is now, there’s every probability that the bitcoin mine operator could be fined up to $7 million after setting up its mining operation with power plants without the express permission of the government in Alberta. According to reports available, Link Global is guilty of disregarding procedures and its not their first time. The operator started operations in Alberta where it set up a site in Sturgeon County, near Edmonton, and another mine at Kirkwall. It set up with no less than 4 generators at each mine. However, reports show that none of these sites considered the set out rules of the Alberta Utilities Commission.

The case would probably not have been put in motion if not for neighboring communities whose complaints about the noise pollution from the sites finally got the attention of the authorities. Linked Global are reported to have been operating for more than a year, even before the official notice that came on August 25 to stop all activities on the 2 mining sites involved. Authorities say the company did not comply with their requirements, hence the reason for their sanction.

CEO Reassures Shareholders

So, according to Alberta Utilities Commission (AUC), the penalty is in two parts; benefits for obtaining the power in the first place ($2 million), and benefits for mining Bitcoin (up to $5 million).

But CEO of Link Global, Stephen Jenkins is not having it. In a statement to the local media, he explained that the estimates are in no way near the financial reports of the company. He also insists that Link will contest the fines, but admits that the company has followed AUC orders by relocating their Bitcoin mining sites to another location.

The hearing is slated for October 14, where the final fine will be decided upon.