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Quebec Hikes Power Prices for Crypto Miners

  • Prices for new comers rise threefold in temporary move
  • Existing clients left untouched until later this year
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Quebec will make electricity prohibitively expensive for cryptocurrency miners until it figures out how to deal with a surge in demand from the energy-hungry industry.

Provincial regulator Regie de l’energie authorized utility Hydro-Quebec to charge 15 cents per kilowatt hour to blockchain companies, about three times the price they have enjoyed up to now. The temporary pricing doesn’t apply to existing clients and their operations, which total about 120 megawatts.