The public utility provider, Hydro-Quebec, cited increased demand for electricity in its bid to cease services to the blockchain industry.
Public utility provider Hydro-Quebec petitioned electricity distribution regulator, Regie de l’energie, to stop allocating energy to the blockchain industry.Miners in Quebec may soon be looking off-grid for power solutions.increased electricity demands over the next decade as it filed a request with the region’s electricity transmission and distribution regulator, Regie de l’energie, to suspend services for the blockchain industry.
The request came as a part of the provider’s Electricity Supply Plan 2023–2032, a report that said its electricity demand is expected to see an uptick of 14% over the next 10 years. Around 270 MW reserved for mining operations would “increase pressure on current balances,” Hydro-Quebec said.Regie de l’energie did not immediately respond to The Block’s request for comment.
Blockchain mining organizations faced challenges over the last year, with a significant downturn in bitcoin mining revenue, data from The Block Research show.as soon as Nov. 8. North American bitcoin miner Argo also had its share of struggles, failing to close a £24 million subscription deal, theSimilar woes emerged for bitcoin miner Core Scientific after the company© 2022 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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