Cryptocurrencies
Quebec Keeps Electricity Cheap for Crypto Miners Under New Rules
- Energy regulator sets aside an extra 300 megawatt for industry
- Province adds economic criteria to select blockchain clients
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Electricity will stay cheap for cryptocurrency miners in Quebec -- as long as they get selected.
New rules released by the Canadian province’s energy regulator Monday create blockchain as a client category of its own and order utility Hydro-Quebec to set aside an extra 300 megawatt for the industry, on top of 368 megawatts already committed. Applying companies will be judged on four criteria, including the number of jobs created, planned investments and heat recovery plans for the energy-intensive computing process that makes transactions with digital currencies possible.