Quebec’s Inexpensive Power is Attracting Miners from China

A growing number of Chinese bitcoin miners have begun to explore alternative locations in which to base their operations, amid rising concerns that the Chinese central government may seek to extend its recent cryptocurrency crackdown to target bitcoin mining. Radio-Canada recently reported that “a dozen major Asian players in the cryptocurrency industry have contacted Hydro-Quebec, as they are looking for a place to install their huge computer centers.”

Eric Filion, Hydro-Quebec’s Vice President of Customers, has confirmed the report, stating “these are really big players who contact us… The Bell Center in Montreal consumes the equivalent of 5 megawatts of power. The players who contact us [consume] from 5 megawatts to several hundred megawatts of power.”

What do you make of reports that major mining companies have directly contacted Hydro-Quebec? Share your thoughts in the comments section below!