Cryptocurrencies in Canada: mining vs sustainability
Join Our Telegram channel to stay up to date on breaking news coverage The future of cryptocurrency mining in Canada, according to proponents, is in jeopardy after several provinces restricted new projects earlier this year over concerns about their electricity usage. The abundance of clean, affordable electricity in Canadian areas like British Columbia and Quebec has attracted cryptocurrency entrepreneurs, the majority of whom are focused on Bitcoin. To run the rows of powerful computers necessary for crypto mining, the majority of cryptocurrency operations require unrestricted access to cheap power. How come Canada? Dan Roberts, an Australian bitcoin entrepreneur whose company, Iris Energy, runs three facilities in British Columbia, explained that first, We asked what are the key ingredients you need to run this computing service. Cold temperatures are crucial. stable legal system, effective regulatory authority. In addition, renewable energy is crucial. A number of Can...