As you may probably know, the process of mining requires a large amount of computing power which, in its turn, requires a ton of electricity. Miners from the Canadian province Quebec have recently come across some disputes with the province administration when the latter cut off the electricity supply for former.
The Canadian company Hydro-Quebec which manages the electricity distribution in this province was first unable to manage such a high level of electricity consumption coming from miners. so the only way out was to stop supplying it.
However, a week later the company changed its mind due to a couple of reasons. Firstly, the province is obliged to supply all of its residents with electricity unless the customers do not pay their bills. Secondly, the company management realized that miners and blockchain could be beneficial for them.
That is why, Hydro-Quebec proposed a cooperation plan for both parties. The company will provide miners with a limited amount of electricity. Not only will it bring profit, such a plan is going to sponsor the creation of a lot of new jobs. Thus, it will be a win/win situation.
We would like to remind you that the administration of New York raised electricity tariffs for cryptocurrency miners.
Subscribe to The Coin Shark news in Facebook: https://www.facebook.com/coinshark/