Quebec Hydroelectric refuses to power new mining companies (correction)

Quebec Hydroelectric has gone ahead and announced that they will not power to new crypto mining companies in the area. The current miners have picked this location due to the extremely cheap power and the cold climate is perfect for crypto mining, the issue is that the current framework cannot supply enough power to all the population and the new miners during peak times.

This is leading the Hydroelectric company to come up with a new setup, they are not wanting to miss out on the crypto business but don’t have the infrastructure to scale. One of the proposed solutions is somewhat of a bidding process that pits the companies against each other and those that bring more jobs, benefits and infrastructure to the community will be chosen.

This also will most likely lead to more and more hydroelecteic generation to be built out increasing a valuable renewable electric resource.

So expect to see mining companies start a campaign for good in each community they locate to as to stay on the good side of municipalities and the local electric companies.

 

-Monarch

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About the Author: Monarch

The main poster and owner of Monarchcrypto.com , I am trying to use the site to share correct information in a sea of lies and manipulation that is the cryptoworld.