Quebec Throws Cold Water on Bitcoin Miners Seeking Cheap Power
- Premier not interested if business adds no value to economy
- Comments add to Hydro-Quebec saying can’t accommodate everyone
An employee changes the fan on a mining machine at a cryptocurrency farming facility in Farnham, Quebec, Canada, on, Jan. 24.
Photographer: Christinne Muschi/BloombergThis article is for subscribers only.
Quebec’s potential as a Bitcoin-mining nirvana is starting to fizzle.
Earlier this week, Hydro-Quebec warned that there won’t be cheap power available for every company that wants to set shop in the province and suggested it may set a higher tariff for cryptocurrency miners. On Friday, the government -- the utility’s owner -- questioned the companies’ contribution to the province’s economy.