Hydro-Quebec Increases Electricity Prices by 300% for Bitcoin Miners

2018-6-22 05:00

Even though Canada has become a very important country for cryptocurrency mining, it seems things are changing behind the scenes. The Quebec provincial regulator has decided to allow utility providers to hike electricity prices for Bitcoin miners.

As such, the rates will be increased by up to 300%, which might make the mining process unprofitable. […].

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Proposed Regulations Could Cause Major Shifts in Canadian Crypto Businesses

Canada’s government has released draft regulations for “virtual currencies” with a consultation period of 90 days, saying that proposed regulatory changes could mean a loss of $60 million over 10 years for businesses that deal in cryptocurrencies but will improve Canada’s international reputation and make it easier for crypto businesses to deal overseas.

2018-6-13 20:24