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Canadian miners found themselves in a quandary

The authorities of Quebec will not allow new companies to extract crypto currency.

09.Jun.18 9:28 AM
By Shawn Highstraw


Canadian miners found themselves in a quandary
Québec's cheap electricity attracts miners from different countries, however, newcomers wishing to do business in this province may face certain difficulties. The fact is that the regional authorities have established a temporary ban on the implementation of new projects for the production of crypto currency. At this step, they decided to go in order to develop norms to increase the cost of electricity.

According to media reports, last autumn Québec took the leading position in the mining industry. But this week regulators introduced a moratorium on the extraction of digital money by companies coming to the region.

It is not yet known when lawmakers will adopt acts, according to which new enterprises will be able to engage in mining. However, there is already information that the state-owned electricity producer can choose the best companies applying for jobs in Quebec. Market experts are already discussing the possibility of increasing electricity prices not only for beginners, but also for those who have been engaged in mining in Quebec for a long time.

Earlier, we reported that the largest in the US mining farm will appear in the abandoned factory in New York.

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