Quebec attracts more and more miners of crypto-currencies

Quebec is attracting more and more miners from Bitcoin. The canadian province has an electricity production inexpensive and cold winters, ensuring the cooling of the facilities. The mining of digital currencies is today booming with activity.

Many companies specialize in this field. With the growing interest of investors in crypto-currencies, especially Bitcoin, or Ethereum, companies are seeking more economical alternatives for the mining of these currencies. A young canadian entrepreneur told the local media that Quebec will be the site of choice for the mining of crypto-currencies.

Quebec to achieve savings in terms of electricity consumption

Mr. Bertrand manages approximately 50 ASIC in a warehouse on the outskirts of Montreal. Each unit can generate on average nearly $ 470 per month. The cost of cheap energy is attributed to the development of hydropower in the region. The large mining companies the chinese are very attracted by the potential of this province.

Hydro-Québec, a State-owned company based in Montreal, manages the distribution of electricity across Quebec. It is estimated that more than 40% of the country’s water resources are located in the province, Hydro-Quebec, the fourth largest producer of hydroelectricity in the world. Although the average price of residential electricity in Quebec is at 4.56 $ /kWh, Hydro-Québec has recently announced that it will introduce a level of conditioning industrial, effective April 1, 2018. After the application of this measure, the new price will be $ 2.58 million for a minimum consumption of 500 kWh.

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Chinese investors want to relocate to Quebec

An increasing number of children chinese have started to explore other locations, in which to base their operations. This initiative is mainly related to the position of the chinese government, which seeks to intensify their crackdown on the market of crypto-currencies.

According to Radio-Canada, a dozen major asian players of the industry of the digital currency have contacted Hydro-Quebec for future collaboration.

Source : NewsBitcoin