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.
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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