NO! Quebec refuses to get involved in bitcoin mining as its adds no value
The Quebec government said it is “not interested” in giving modest power to Bitcoin diggers by means of state utility Hydro-Quebec amid a meeting Friday, Mar. 2, Bloomberg reports.
During the meeting in the capital Montreal, Premier Philippe Couillard suggested that doing bitcoin mining without adding any value to the economy is unfavorable. He said
“Thus mining should add value to our society and economy; just having servers to do crypto transaction mining and acquire new bitcoins every day, I don’t see the added value in this.”
According to bittmint, Quebec had an increased surfaced on the radar of cryptocurrency mining operators globally this year. A mass migration from China and elsewhere prompted Hydro-Quebec to be “inundated” with a deluge of association queries.
Following the flood of in excess of 30 applications in January, the utility cautioned it “won’t have the capacity to control” the quantity of ventures keen on setting up in the area. Higher duties for excavators were additionally on the plan, Bloomberg includes.
“An issue could be raised if we all do is connect bitcoin miners who have applied,” Hydro-Quebec’s CEO Eric Martel informed the publication on Feb. 28 saying this.
“He can’t host the entire planet, there are limits to everything in this world.”