Quebec Lures Miners With Cheap Electricity

November 20, 2017

Quebec Lures Miners With Cheap Electricity

The Canadian province is becoming rather an interesting place for cryptocurrency miners. Electricity is quite cheap and winters are cold there, due to which it is possible to provide cooling.

A Canadian entrepreneur manages approximately 50 ASICs in a warehouse in Montreal. Each block consumes 90 Canadian cents (about 70 American cents) daily, and the income per month is approximately 600 Canadian dollars ($470). Such low prices for electricity are due to a large number of hydroelectric power plants in the region.

Hydro-Quebec is an enterprise in Montreal that manages the distribution of energy in Quebec. More than 40% of Canada's water resources are located here, as a result of which Hydro-Quebec is the fourth largest producer of hydropower in the world.

At the same time the Chinese government bans trading cryptocurrencies, and the miners from the Celestial Empire are looking for new places for their farms. A large number of Asian players of this market have already contacted Hydro-Quebec to investigate the possibility of placing their huge enterprises there.

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