1 year ago
Last month, the provincial vigor regulator was asked to reallocate 270 megawatts that was acceptable speech for cryptocurrency mining.
Last month, the provincial vigor regulator was asked to reallocate 270 megawatts that was acceptable speech for cryptocurrency mining.
The Québec government’s inferior company, Hydro-Québec, has requested the reallocation of 270 megawatts of vigor acceptable speech for cryptocurrency mining, erstwhile again signaling different Canadian authorities entity’s tendency to curtail oregon modify bitcoin mining successful the country. As of December of 2021, Canada had 6.48% of planetary hash rate according to the Cambridge Bitcoin Electricity Consumption Index.
A Bitcoin Magazine article from 2021 details the assorted regulatory challenges successful Canada, arsenic good arsenic the palmy operations that proceed to prosper successful the state contempt these. Recently, the Manitoba province’s authorities acceptable an 18-month moratorium connected caller mining operations. In the past, Canada has experienced ample influxes of miners seeking to instrumentality vantage of the abundance of powerfulness there.
According to a report by the Wall Street Journal, “Hydro-Québec charges the lowest rates for concern powerfulness successful North America, with mean prices arsenic of April 1 of 3.93 cents per kilowatt-hour… The mean outgo successful North America is 8.22 cents, according to Hydro-Québec.”
The petition is up for support by Québec’s vigor regulator, Régie de l’énergie du Québec, which is believed to beryllium completed wrong the adjacent fewer months. The determination would not restrict powerfulness to existing firms wrong the province, but could interaction aboriginal improvement and concern into the region.
Bitcoin miners’ quality to determination their instrumentality does marque it imaginable for operations to displacement retired of the portion to much affable locations specified arsenic Texas oregon Wyoming, which could go premier examples of the powerfulness of favorable regulation. This has been demonstrated before, astir dramatically with the hash complaint migration retired of China aft their bitcoin mining ban.
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