Quebec's energy manager to seek government approval to stop powering crypto m...
Energy provider Hydro-Québec cited the high energy demands anticipated in the Canadian winter in its reasons to reallocate 270 megawatts from crypto mining firms. Hydro-Québec, the firm managing electricity across the Canadian province of Quebec, plans to reallocate energy supplied to crypto mining firms. According to a Nov. 3 tweet from Canadian lawmaker Pierre Fitzgibbon, the government will request a decree from the energy board to release the company from its obligation to power crypto miners in the province. Hydro-Québec allocated 270 megawatts toward the mining firms, but electricity....
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Cryptocurrencies are generated via a process known as crypto mining which consumes much electrical power. And higher energy consumption has consequently brought electrical power shortages in several regimes due to increased mining activities. Quebec, a Canadian province, is of them facing similar problems. And now, the provisional energy supplier wants to cut power sources for […]
Instacoin ATM. Instacoin continues it steady growth in Quebec by adding two more Bitcoin ATMs in Montreal. Instacoin is a group of independently owned ATMs throughout the Quebec province. The goals are to bring Bitcoin awareness, promotion and ATMs to Canadian in Quebec. Their first Lamassu Bitcoin ATM launched in June of this year. Instacoins goal of getting Bitcoin out to more people has been a success so far. Their two new locations are at La Belle Province 3608, boul Saint-Laurent, Montréal, QC and Ottavio Restaurant 1134 Marcel-Laurin Saint-Laurent, QC. The newest two bring their....
If you operate an exchange, bitcoin automated teller machine or any other money services operation that does business with Quebec residents, you will need to comply with its updated Money Services Businesses Act regardless of where in the world you are based. This new policy document was first made public on February 1, 2015 (updated to March 1, 2015), and experts have been trying to determine what it means for bitcoin businesses both within Quebec and outside its borders. The document says that anyone offering money services (that is, currency exchange; funds transfer; issue or redemption....
Bitcoin’s unprecedented popularity is giving rise to unprecedented consumption of energy to power it – in fact, it’s like powering Sri Lanka. Like Powering Sri Lanka. Statistics uploaded to Bitcoin file hosting site Supload show the power needed to keep the Bitcoin ecosystem ticking over and processing transactions is similar to the energy consumption of the whole of Sri Lanka – 20.5 million people. The information was compiled by the newly-launched Digiconomist Bitcoin Energy Consumption Index, a beta tool already providing startling reading. Each transaction in Bitcoin currently uses 109....