The local government of said it is “not interested” in providing cheap electricity to Bitcoin miners via state utility Hydro-Quebec during a conference last March 2, says Bloomberg.
Unlike previous pronouncements from Hydro-Quebec itself, “doing Bitcoin mining” without providing “added value” for the economy was unfavorable, says Premier Philippe Couillard, during a conference in the capital Montreal.
“If you want to come settle here, plug in your servers and do Bitcoin mining, we’re not really interested,” the official said.
“There needs to be added value for our society; just having servers to do transaction mining and acquire new bitcoins, I don’t see the added value,” he added.
It can be remembered that Quebec had rapidly surfaced on the radar of cryptocurrency mining operators worldwide this year.
This is a mass exodus from China and elsewhere prompted Hydro-Quebec to be “inundated” with a deluge of partnership queries, companies looking to take advantage of cheap wholesale rates.
According to Bloomberg report, the influx of more than 30 applications in January, the utility warned it “won’t be able to power” the number of projects interested in setting up in the province. Higher tariffs for miners were also on the agenda.
“If all we do is connect the bitcoin miners who have applied, we could create an issue for ourselves,” Hydro-Quebec’s CEO Eric Martel said.
“There are limits to what we can do. I have a huge network with lots of capacity, but I cannot host the entire planet,” he said.