Hydro-Quebec Requests Power Cuts For Blockchain Industry
In a recent suggestion, Hydro-Quebec, the energy provider for the Canadian province of Quebec, suggested ending the supply of electricity to the blockchain sector in order to combat rising energy consumption.
When requesting a suspension of services for the blockchain industry from the region’s power transmission and distribution authority, Regie de l’energie, public utility provider Hydro-Quebec claimed rising electrical consumption over the ensuing ten years.
The request was made as part of the provider’s Electricity Supply Plan 2023–2032, which said that its anticipated increase in electricity demand over the next ten years is 14%. According to Hydro-Quebec, the 270 MW set aside for mining operations will raise pressure on current balances.
Blockchain mining organizations faced challenges over the last year, with a significant downturn in bitcoin mining revenue. Compute North, Core Scientific, and Argo are some of the names that have been struggling financially recently.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
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Harold
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Hydro-Quebec Requests Power Cuts For Blockchain Industry
In a recent suggestion, Hydro-Quebec, the energy provider for the Canadian province of Quebec, suggested ending the supply of electricity to the blockchain sector in order to combat rising energy consumption.
When requesting a suspension of services for the blockchain industry from the region’s power transmission and distribution authority, Regie de l’energie, public utility provider Hydro-Quebec claimed rising electrical consumption over the ensuing ten years.
The request was made as part of the provider’s Electricity Supply Plan 2023–2032, which said that its anticipated increase in electricity demand over the next ten years is 14%. According to Hydro-Quebec, the 270 MW set aside for mining operations will raise pressure on current balances.
Blockchain mining organizations faced challenges over the last year, with a significant downturn in bitcoin mining revenue. Compute North, Core Scientific, and Argo are some of the names that have been struggling financially recently.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join us to keep track of news: https://linktr.ee/coincu
Website: coincu.com
Harold
CoinCu News
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