RATE Group | Has Quebec Missed the Ship for Attracting Cryptocurrency Miners?
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Has Quebec Missed the Ship for Attracting Cryptocurrency Miners?

23 Jan Has Quebec Missed the Ship for Attracting Cryptocurrency Miners?

Posted at 12:59h in Cryptocurrency News by

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The results of a 300 megawatt (MW) energy allocation for cryptocurrency miners, run by Canadian provincial utility provider Hydro-Québec, has failed to attract expected demand from the local industry.

A Request for Proposals (RFP) for power allocation was opened in June last year, supposedly based on huge demand of around 16,000MW from miners around the world that wanted to take advantage of Quebec’s hydroelectric power. Bid submissions closed on Oct. 31, 2019.

According to a Jan. 22 report from Radio Canada, the results of the RFP or only released recently with Hydro-Québec granting one-fifth of total block set aside for crypto mining. 

A long and winding road

As Cointelegraph has reported, Quebec’s path to eventual acceptance of cryptocurrency mining has been a rocky one. Initially, back in March 2018, local authorities said that they were “not interested” in attracting mining businesses to the province, unless they could provide some “added value.”

However, by May of…

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