5000 MW to Spare ' CEO of Hydro-Qu
Just recently in an interview with Qubec's local publication, Le Journal, the CEO of the public utility company Hydro-Qubec wants to attract cryptocurrency miners to the region to help bolster economic prosperity.
Hydro-Qubec Needs a Solution to Avoid Energy Tariffs
Hydro-Qubec is a large state-owned enterprise headquartered in Montreal that helps manage and supply electricity for Qubec and other cities. The company isn’t doing so well the CEO ric Martel reveals, and if things don’t change Qubecers will face an 'explosion' of electricity tariffs. Martel believes his company has the resources to stop the taxes as the firm's 36,912 megawatts stemming from 63 hydroelectric power stations may be attractive to large data centers.
Bitcoin Miners Can Purchase Over 5000MW of Excess Power from Qubec
Martel reveals Hydro-Qubec will try to get energy-consuming businesses like giant website operations and server companies to utilize Qubec's resources. Hydro-Qubec already supplies 450 MWh to various server centers. Martel is also looking to attract bitcoin miners to the region as Hydro-Qubec hopes to distribute 6 TWh to those in need of an excess supply of cheaper energy. The CEO estimates cryptocurrency miners could use 5000MWof that energy.
When chatting with the Le Journal, Martel explains that he believes cryptocurrency miners and data stations appreciate the cold winters in Qubec stating;
I tell them in the winter, you just have to open the garage door and windows to cool things down.
Chinese Miners Look to Canada
Hydroelectric power stations are becoming popular within the digital currency mining space as this type of energy producing technology is used by miners in various countries. However, the low-cost power in Winnipeg, Qubec, and Canada, in general, is starting to attract bitcoin miners. Just recently one of the largest Chinese mining pools BTC.top announced it was building a mining farm in the country.
'We chose Canada because of the relatively cheap electricity cost and the stability of the country and policies,' the BTC.top founder, Jiang Zhuoer explains in a recent interview.
This past November news.Bitcoin.com reportedon a bitcoin entrepreneur, Mr. Bertrand, telling the local media that Canada was attracting cryptocurrency miners because of the abundance of hydropower in the province. Mr. Bertrand also uses the region to mine bitcoin as he owns 50 ASICs in a warehouse that he estimates far less expensive than the U.S. and other areas.
Further, Hydro-Qubec's vice president, Eric Filion, has revealed on the broadcast Radio Canada that bitcoin miners from Asia have already been in touch with them. 'These are really big players who contact us,' Filion notes on the radio show. It seems that's just what the company wants to help cure its economic situation, offering bitcoin miners cheap hydropower before Qubec residents see higher energy taxes.
What do you think about the CEO of Hydro-Qubec looking for cryptocurrency miners to inhabit the region' Let us know what you think in the comments below.
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