The CEO of Hydro-Québec Wants to Attract Cryptocurrency Miners

Just recently in an interview with Québec’s local publication, Le Journal, the CEO of the public utility company Hydro-Québec wants to attract cryptocurrency miners to the region to help bolster economic prosperity.

Also Read: Chinese Bitcoin Miners Explore Relocating Abroad Amid Fears of Crackdown

Hydro-Québec Needs a Solution to Avoid Energy Tariffs

The CEO of Hydro-Québec Wants to Attract Cryptocurrency MinersHydro-Québec is a large state-owned enterprise headquartered in Montreal that helps manage and supply electricity for Québec and other cities. The company isn’t doing so well the CEO Éric Martel reveals, and if things don’t change Québecers will face an “explosion” of electricity tariffs. Martel believes his company has the resources to stop the taxes as the firm’s 36,912 megawatts stemming from 63 hydroelectric power stations may be attractive to large data centers.

Bitcoin Miners Can Purchase Over 5000MW of Excess Power from Québec

The CEO of Hydro-Québec Wants to Attract Cryptocurrency Miners
Éric Martel CEO of Hydro-Québec

Martel reveals Hydro-Québec will try to get energy-consuming businesses like giant website operations and server companies to utilize Québec’s resources. Hydro-Québec already supplies 450 MWh to various server centers. Martel is also looking to attract bitcoin miners to the region as Hydro-Québec hopes to distribute 6 TWh to those in need of an excess supply of cheaper energy. The CEO estimates cryptocurrency miners could use 5000MW of that energy.

When chatting with the Le Journal, Martel explains that he believes cryptocurrency miners and data stations appreciate the cold winters in Québec stating;

I tell them in the winter, you Read More Here