Québec, the resource-rich Canadian province, has made up its mind about cryptocurrency mining. Régie de l’énergie, the region’s energy regulator, has rendered its decision on the blockchain sector and lifted the moratorium on electricity supplies. An additional 300 MW of energy will be allocated to power the minting of digital coins, a move that local officials hope will make Québec one of the major forces in the industry.
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Applying Miners Need to Meet a Set of Selection Criteria
After a period of restrictions and policy making, regulators in the French-speaking region have realized the potential benefit of hosting crypto mining companies. From a declared inability to meet the high energy demands of the sector, through a proposal to charge up to three times higher electricity rates, to the political statement that “we’re not really interested,” in 2018 Québec didn’t seem ready to embrace and accommodate the energy-intensive bitcoin…