Bitcoin miners turn Quebec's cheap energy into cold cash
Bitcoin mining is a weird industry. Vast banks of dedicated computers solve complex equations to generate hashes worth a fraction of a coin, consuming huge amounts of power in the process. For such operations to be economically feasible nowadays, miners need the cheapest electricity possible. Energy is cheap in certain regions of Asia but many nations there are becoming increasingly hostile to cryptocurrency. China, for instance, is concerned that a sudden Bitcoin collapse could cause economic chaos. More importantly, it wants to cut off cryptocurrency operations near coal-fired energy plants that cause extra pollution in an already-polluted country. The answer, for many bitcoin miners, is to be found in Quebec. The Canadian province has some of the lowest electricity prices in North America, and produces an energy surplus that amounts to 100 terawatt hours over a decade -- enough to supply 6 million homes in a year, according to Global News . As such, rather than turning away ...