Bitcoin mining computers are pictured in Bitmain’s mining farm near Keflavik, Iceland, June 4, 2016. Hampered by their own government, Chinese bitcoin miners are increasingly looking to Canada to house their lucrative but energy-sapping facilities. Earlier this month, a leaked document obtained by an employee of U. Blockchain appeared to show China’s internet finance regulator instructing local authorities don harrold bitcoin mining use a variety of measures to disincentivize bitcoin miners.
Multiple bitcoin miners also told Reuters that local authorities were taking various steps to clamp down on their operations. That’s prompting them to consider expanding abroad, and it looks like one of their first ports of call might be Quebec. Data Center conference about Bitcoin mining! Unique opportunity to address all major players. It all comes down to cheap energy. Hydro Quebec offers some of the lowest electricity rates in North America.
The utility says the province has an energy surplus equivalent to 100 terawatt hours over 10 years. A single terawatt hour powers 60,000 homes in Quebec during a year. Eric Filion, customer vice-president for Hydro Quebec’s distribution division, told Reuters. It’s a question of finding land and buildings quickly.