Hydro Quebec can start allocating 500 MW to crypto miners annually

Posted 25 June, 2018

Canada's state power supplier Hydro Quebec has provided Quebec authorities with the plan determining the way how the company may deal with local cryptocurrencies miners.

According to the reports, this proposal may allow lifting of the ban on crypto mining licenses that was launched earlier considering enormous electricity demand in the province.

In case of a positive determination, the company will start providing a limited amount of power for miners per year. As a result, this is believed to release power for other clients of Hydro Quebec. Specifically, the miners are said to receive 500 MW per month under the plan.

Notably, the miners that may receive licenses for operations in the province will be chosen by the company. The decisions will be made after the supplier estimates the ability of every miner to bring fruits to the region in the form of new jobs and contribution to the province's economy.

Besides, the company also considered the possible restriction of the amount of power that miners draw given a need to secure electricity for other consumers.

As Coindesk reported citing the company:

"The economic analysis will favour customers who will be ready to operate their facilities as quickly as possible. In addition, Hydro-Québec could request that these customers decrease their electricity use, for a maximum of 300 hours per year, to allow it to ensure the delivery of electricity to all of its customers, particularly during the winter peak period." 

As it was reported earlier, the province intended to boost electricity prices to the miners on reports by Hydro Quebec about the extra high power supply.

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