what's Backbone Hosting Solutions Inc.?

Backbone Hosting Solutions Inc. is a Canadian-based company specializing in the operation of large-scale server farms and blockchain computing centers dedicated to cryptocurrency mining. It provides the physical infrastructure and computing power necessary for validating transactions and securing proof-of-work blockchains, primarily Bitcoin, leveraging renewable energy sources such as hydropower for efficient and sustainable operations. Acquired fully by Bitfarms Ltd. in 2019, Backbone serves as the primary operating entity for Bitfarms' mining activities across multiple facilities. Its role involves hosting high-density ASIC miners in optimized environments, contributing to the decentralized network's hash rate while focusing on scalability, low-cost energy, and reliable uptime.

Backbone Hosting (BitFarms subsidiary) is caught in BlockFills' Chapter 11 bankruptcy; $4.2M at stake.