2018-6-22 08:49 |
The Quebec provincial regulator has decided to allow utility providers to hike electricity prices for Bitcoin miners.
As a result of this uneasy situation, the regulator will allow Hydro-Quebec to raise its electricity prices.
Increasing electricity costs by up to 300% will make the mining of Bitcoin and various altcoins less profitable fairly quickly.
That success eventually came to harm the company, as it cannot keep up with the increased demand for electricity.
At the end of the day, Hydro-Quebec is mainly interested in finding the correct price point for the electricity required to mine Bitcoin and other cryptocurrencies.
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