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Quebec mining ban lifted under certain conditions

04 June 2018 00:00, UTC
Quebec mining ban lifted under certain conditions

Quebec miners take a breath of fresh air after regulatory stance of the local officials. The local authorities have banned cryptocurrency mining, but now the ban is lifted with certain exceptions.

Such exceptions include peak energy consumption spikes - the authorities of the Province of Quebec retain the right to switch inefficient consumers off the grid.

The ban has been imposed after the officials found out that sometimes, mining took 25% of the network capabilities. After some time, a certain benefit from miners became obvious: they consume surplus power which otherwise would not have been used at all. Canadian energy sources are mostly hydroelectric power plants (over 60 of them), and even if miners are involved in the consumption, the harm made to the ecological status quo of the region is relatively small.

The situation with power plants and surplus power largely resembles an issue in the Russian Far East. One of the civil servants from this country reportedly told that there was no reason why the surplus power can’t be used by miners.

An American finance expert has once noted that it would be imprudent to allow miners to use the energy system of the United States. The said system is worn down and needs a serious upgrade, the ex-Chief of FRB noted.

Image: Commonwealth Magazine



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