Quebec’s Stand On Cryptocurrency Miner Hosting in Canada

 In Hosting, Miners

Quebec’s Stand On Cryptocurrency Miner Hosting in Canada

Earlier this year, Quebec was the target of miner hosting companies. A lot of companies who were looking to have miner hosting in Canada flooded to Quebec as they had low electricity costs. Aside from low energy costs, Quebec had an abundant source of electrical power which was going to waste. Miner hosting companies saw this as an opportunity for the cost of electricity; which accounts for 80% of mining operations. The increase in demand for electricity from miner hosting companies caused Quebec to stop accepting partnerships as they were not able to keep up. This did lead to overflow heading to Manitoba and other north/west coast provinces with low electrical cost.

Quebec’s 360 Degree Turn On Miner Hosting In Canada

It was reported recently by Le Journal De Montreal that Quebec has decided to start accepting cryptocurrency hosting companies in order to capitalize further on the booming trend. Quebec is hoping to attract more companies to grow the economy.

Hydro Quebec

This acceptance comes with regulations such as:

  • Miner hosting companies paying a different rate compared to regular users (this rate has yet to be announced)
  • Hydro-Quebec has the ability to cut off the power supply to miner hosting sites if capacity is reached

How It Affects Cryptocurrency Miner Hosting in Canada

With Quebec deciding to accept miner hosting companies and having lower rates (as of current) for electrical costs, a lot of miner hosting companies will most likely decide to host in Quebec. This is a good idea to an extent. What you would have to consider is that Quebec has reported they have an excess amount of about 13 TWh of energy but 10TWh has already been claimed by other companies. This would leave 3TWh for new companies to share. One capacity is reached, Hydro-Quebec can have the right to shut off power to miner hosting at their discretion. This ability given to Hydro-Quebec can heavily affect a miner hosting company as profit maximization would require energy supplied 24/7.

MiningSky Miner Hosting Facility Setup

The Northern and Western Provinces of Canada still has a lot of excess energy. With changes happening to BC Hydro and excess electrical supply, it would be a perfect area to have miners hosted. MiningSky has miner hosting locations in North Western Canada. Contact MiningSky to have access to a full-service solution to crypto mining.

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