Québec Utility Requests Reallocation Bitcoin Electricity – Bitcoin Magazine

The Québec authorities’s utility firm, Hydro-Québec, has requested the reallocation of 270 megawatts of power put aside for cryptocurrency mining, as soon as once more signaling one other Canadian authorities entity’s need to curtail or modify bitcoin mining within the nation. As of December of 2021, Canada had 6.48% of global hash rate in accordance with the Cambridge Bitcoin Electricity Consumption Index.

A Bitcoin Magazine article from 2021 particulars the assorted regulatory challenges in Canada, in addition to the profitable operations that proceed to prosper within the nation regardless of these. Recently, the Manitoba province’s authorities set an 18-month moratorium on new mining operations. In the previous, Canada has experienced large influxes of miners searching for to benefit from the abundance of energy there.

According to a report by the Wall Street Journal, “Hydro-Québec prices the bottom charges for industrial energy in North America, with common costs as of April 1 of three.93 cents per kilowatt-hour… The common value in North America is 8.22 cents, in accordance with Hydro-Québec.”


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