The canadian province of Quebec has suspended the registration of new mining companies in the region.
The region, known for its cheap hydropower has been an attractive place for miners wishing to expand their business. However, on Friday the canadian newspaper Les Affaires reported that the operators that work with the main energy supplier in the region, Hydro-Quebec, refuse new customers.
The energy and natural resources Minister of Quebec, Pierre Moreau said that the miners require a lot of energy, but they create very few jobs compared to other industries, for example, from the aluminum industry.
In addition, he added, there is a likelihood that the region will not be able to meet the growing needs of miners in electricity:
The government’s aim is to provide all residents of Quebec to winter Hydro-Quebec suddenly said: Sorry, I can’t provide [energy], because we minim cryptocurrency.
Representatives of Hydro-Quebec seem to agree that they are unlikely to meet the demand for electricity in the region. According to some, in recent months, the company constantly receives applications from projects which require thousands of megawatts of power.
Currently, the development of new guidelines for cryptocurrency businesses as soon as work on them is finished, the power will again begin to accept applications from miners to start new companies.