Bitcoin Miners Moving From China To Canada? Quebec Leads The Pack
Big Chinese crypto mining players are downshifting their game. ViaBTC closed their cloud contract market as of today, and signs of other mining facilities looking for greener pastures are strong.
So strong, that it shows even in the place you at least expect this to show: Canada. It wasn't very obvious that Canada has low energy prices, but apparently they have. In a long and detailed story published by Coindesk, Quebec leads the pack in the efforts of attracting data centers and, recently, crypto miners, on their premises.
One tiny detail that stroke me from that article is that the energy companies are charging differently for the same energy unit, based on the type of your business: if you plan to build a data center, you get energy cheaper, because you will create more jobs and have a lower environmental foot print, but if you plan to mine Bitcoin, you get it slightly higher (but still way cheaper than in other parts of North America) because you won't create that many jobs.
Even in these conditions, it seems that we are witnessing one of the biggest tech-driven business migration of the last decade.
I wonder what would happen if someone will cover Sahara with solar panels.
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Idea for an ICO? Solarpanels in the Sahara? Sounds like a very good idea
Cryptomining migration! a new historical milestone on economical history :-)
But will this really create much economic opportunity and create employment? From what I understand from the post and other readings, the migration out of China will not vastly impact economic opportunities.
This partiality of charging differently for different businesses is unethical...You can disconnect the connection only if they don't pay the bills on time, this clearly shows their desperation.
How is that unethical? It is normal, or should be, that companies which contribute more to the society are rewarded with something ie. lower taxes. Well done Quebec!
It's when philosophy meets electricity.
@dragosroua Bring on the Chinese to Canada. You can Mine anywhere in the World and Electricity Prices will help Bitcoin Miners in Canada.
I don't mine Bitcoin, but I am from India and I do plan to move soon because Bitocoin or any crypto owners are being tracked down and taxed upto 50% (Also crypto is not legal.)
India should embrace crypto. With over 1billion people it would have great use for it. Eapecially in healthcare, finance, commerce and possibly governance. A open blockchain could be used to fight corruption.
Ikr ??? We could reshape the whole country for good !!! End of corruption is what the government fears, they all are corrupt. Anyways for now only minority of people are into crypto, but once we gather in majority, crypto will survive!!
This is really out-of-the-box thinking and I like it:
I saw that news saying that there might be a rise in BTC because of a drop in mining supply. The loss of mining in China will spike up demand. But yet to see it move much....
The sahara is covered in snow right now.
Read that, a bit counterintuitive, innit?
Don't worry! Its the global warming!
we live in interesting times
The place to put solar is in the caribbean. It don't snow there. And you can lay lines with ships to other countries. Also Islands would be exposed to wind, waves etc. so power could be produced from multiple sources.
Another thing, cooling shouldn't be an issue during winter. Just open the doors!
It still hurts me to see so much energy swallowed by mining bitcoins.