A private medical marijuana company is looking to mine Bitcoin to cut greenhouse heating costs. John McMullen, CEO of LGC Capital Ltd. met with investors yesterday to discuss the upcoming project.
The investment holding operates in the production of marijuana in Canada, Australia, Europe, Jamaica and South Africa. Its Montreal-based subsidiary Tricho-Med Corp. recently acquired the 2-million-square-foot site. Production will begin in 2019.
Global Canna Labs Ltd., a Jamaican marijuana company, owns six acres of land, of which 27,000 square feet are greenhouses. In the future, the company plans to purchase another 50,000 square feet. If granted a license to operate, the company plans to harvest its first commercial harvest in the second quarter of this year. An on-farm marijuana dispensary will open in Kingston later this year.
Little Green Pharma, a private company based in Perth, Australia, will soon harvest its first harvest and become Western Australia's first medical marijuana company.
LGC Capital Ltd. signed a letter of intent with Evolution Bank regarding Bitcoin mining.
“We will be involved in both marijuana production and Bitcoin mining, which will actually reduce the cost of production in a country where marijuana has been legal since 2013,” McMullen said.
LGC Capital Ltd. market capitalization. is 51.83 million US dollars.
According to http://www.proactiveinvestors.com
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