Get Even More Visitors To Your Blog, Upgrade To A Business Listing >>

Canada will not be able to meet the needs of all miners in electricity

Canadian Hydro Quebec will have to refuse the miners who want to return to this canadian province.

According to Reuters, the electricity supplier literally overwhelmed with requests for miners that want to establish operations in energy-rich province of Quebec.

Many Mining Companies, including giants such as Chinese Bitmain, starmada to start mining activities in countries with low energy consumption and excess energy. Increased pressure on the cryptocurrency industry by the Chinese government is forcing miners to seek new locations for their activities.

Previously Bitmain has stated that he is working in Canada in 2016, in what province in Canada does this Chinese company is still unknown.

One of the most attractive countries for mining is Canada, specifically its Quebec, where there are suitable climatic conditions (saves on cooling) and a power surplus. But, apparently, the main energy company of the region – Hydro Quebec will have to refuse the miners. Only last week they were contacted about 70 mining companies with offers on cooperation.

Hydro Quebec says it has in excess of 100 terawatts hours in 10 years, and Bitcoin Digiconomist estimates annual energy requirements Bitcoin and Bitcoin for Cash of approximately 31 terawatt-hour.

A spokesman for Hydro Quebec, Marc-Antoine Pouliot, told Reuters that they will not be able to provide the energy needs of all mining companies wishing to move into the region.

“Every day we receive dozens of applications. This motivates us to clearly define our strategy. We will not be able to provide electricity to all projects. This industry is developing very quickly, so we have to be careful.

Another obstacle to mining business in the region is the lack of ready accommodation for the farms.

The post Canada will not be able to meet the needs of all miners in electricity appeared first on FineCrypto.



This post first appeared on Cryptocurrency News, please read the originial post: here

Share the post

Canada will not be able to meet the needs of all miners in electricity

×

Subscribe to Cryptocurrency News

Get updates delivered right to your inbox!

Thank you for your subscription

×