Cryptocurrency mining is very popular in Canada. This is both a blessing and a curse for local officials. The Quebecois government had taken exception to people mining Bitcoin. As such, no one was allowed to sell electricity to these miners for the foreseeable future. That ban has now been lifted.
Quebec is a very tech-oriented region in Canada. It is not entirely surprising to learn cryptocurrency has gained a foothold there. Even so, not all aspects of Bitcoin are welcome in Quebec. With the government banning the sale of electricity to cryptocurrency miners in March of 2018 a very worrisome precedent was created.
Positive Cryptocurrency Mining News
Fast forward to today, and the ban has been lifted again. The Quebecois government has confirmed they will allow the sale of electricity to Bitcoin miners once again. Additionally, the goal is to establish a friendly relationship with mining companies in search of cheap electricity. A very interesting turn of events, albeit one that comes at a crucial time for the mining industry.
More specifically, Quebec is an appealing region for mining firms. It has an abundance of low-cost energy. This is made possible thanks to its vast hydroelectric power stations throughout the province. Combined with the crackdown by the Chinese government, Canada is suddenly the go-to place for this type of activity.
By overturning this ban, a positive ton has been set. There is still a caveat. Hydro-Quebec can perform forced load shedding by cutting off power when the power grid is at full capacity. This should happen during maximum 300 hours per year. It should not impact the mining firms all that much, but it is something to take into account.
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