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02/05/19 07:01 UTC-4

The Canadian province of Quebec offers cheap electricity to attract Bitcoin-miners

Province of Quebec attracts Bitcoin-miners
Province of Quebec attracts Bitcoin-miners

Quebec, a predominantly French-speaking province in eastern Canada, offers very attractive electricity discounts in an effort to attract Bitcoin mining-business.

The Quebec Energy Authority, Régie de l'énergie, decided to allocate an additional 300 megawatts of discounted energy for new Bitcoin mining-projects.

 

Hydro-Quebec electricity supplier

Previously, the leading electricity supplier, Hydro-Quebec, has already allocated 368 megawatts of discounted energy for crypto-miners.

Bitfarms, the largest blockchain-company in Quebec, will invoice at a preferential LG industrial tariff of about $ 0.05 per kWh. This tariff is considered one of the most competitive electricity tariffs in North America.

Interesting in the section: Financial geography. Cryptocurrencies in Sweden

Eastern Canada offers miners discounts on electricity. Bitfarms founder and president, Pierre-Luc Quimper, said that this decision helps to ensure their long-term activities in Quebec, as they enter a new era of growth.

“We are pleased to continue our cooperation with Hydro-Québec, municipal energy distributors and municipalities”, he said.

Also, Bull Bitcoin CEO commented on the situation on his twitter: “If Québec could provide such low electricity tariffs to the miners 5 years ago, it would probably take a place in the top three Bitcoin-production leaders and would be the leading exporter in the world.”

Editor: Yuliya Soroka

See also: "HTC plans to release a new blockchain-phone later this year"

#Canada #miner #Bitcoin #Quebec #electricity

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