There are many different countries all over the world that provide different benefits for crypto miners to perform their activities. But one of the most innovative regions in Canada, Quebec, imposed in the past an important ban that affected virtual currency mining.
The government decided to ban companies to sell electricity to miners, but now, the ban has been lifted and miners could find better possibilities to start operating in this beautiful region.
Quebec Allows Mining Activities
According to local sources, Â Quebec is allowing companies to sell electricity to crypto miners, so as to avoid missing the chance to be a friendly virtual currency and blockchain technology area. The ban has been imposed the last March, and affected several industries in the region.Â
It is a very important measure because there are some mining companies that were searching better locations to start operating. With these news, virtual currency miners will have one more place where there will be cold weather (reducing cooling costs), stable economic and political situation, and reasonable prices for electricity.
Additionally, miners will be able to legally operate without depending on electricity from homes, businesses and industries.
Moreover, the plan will also include negotiations with mining enterprises that are operating. If the power grid is working almost at full capacity, miners would have to cut off with their activities until the situation gets better.
Marc-Antoine Pouliot, spokesperson for Hydro-Quebec, commented about the plan:
“Having interruptible customers during these critical periods makes it possible to connect more. [Hydro-Québec’s mandate] is to ensure the implementation of cryptocurrencies in Québec by maximizing economic benefits and ensuring the stability of our electricity supply.”
At the moment, Hydro-Quebec is offering very affordable electricity rates which are priced between $0.0248 to $0.0394 dollars per kilowatt hour.
Other countries that are being used by cryptocurrency miners are Iceland, China, Russia, Norway and Sweden. A Canadian company known as Hive, moved from the North American country to Sweden to mine Ethereum. At the same time, another American firm – Bitfury – decided to start mining virtual currencies from Norway.