Hydro Quebec May Sell 500 MW to Miners

New  plan may allow lifting the moratorium on issuing permits for cryptocurrency mining
25 June 2018   615

The state-owned energy company Hydro Quebec has submitted a plan to the authorities of the Canadian province of Quebec, which will determine the procedure for operatng with local miners. This is reported by CoinDesk.

In particular, the plan will allow lifting the moratorium on issuing permits for cryptocurrency mining, created in connection with the "unprecedented" level of demand for electricity in the province.

If the plan is approved, the amount of energy that crypto minners can use within a year will be limited. According to the authorities, this will free up energy resources for other clients of the company. In total, according to the plan, the miners will receive 500 mW of electricity per month.

Hydro Quebec will select miners who will be permitted to work in the province, assessing their ability to create new jobs and contribute to the economy of Quebec.

The economic analysis will favor customers who will be ready to operate their facilities as quickly as possible. In addition, Hydro-Québec could request that these customers decrease their electricity use, for a maximum of 300 hours per year, to allow it to ensure the delivery of electricity to all of its customers, particularly during the winter peak period.

Hydro Quebec

Earlier information appeared that the authorities of Quebec could cancel the moratorium on issuing permits for crypto-currency mining and establish higher electricity tariffs for miners

Huobi to Issue Loans for Miners

This is the part of services that will be available for russian clients of the crypto exchange
19 November 2018   57

Huobi, which opened an office with 30 employees in Moscow on November 12, expects to give Russian users access not only to trading functionality, but also something more. This reported by CoinDesk.

As previously reported, a new call center with Russian-language support opens on the basis of the Russian division, which in itself distinguishes Huobi against the background of such exchanges as Binance, OKEx and Bitfinex, which are currently not ready to provide support to users in Russian.

In addition, through the Russian division of Huobi will implement over-the-counter trading (OTC) and listings, as well as provide personal managers for large customers, its head Andrei Grachev said. .

Initially, Huobi’s plans were even more ambitious - the exchange wanted to give users the opportunity to make deposits in Russian rubles, but local experts did not advise it to do so.

They consulted with us a lot, and in the end, I think, we made them feel disappointed. They were interested in providing fiat operations, but we told them it’s impossible.

Vladimir Demin

Head of the Center of Digital Transformations, Russian government-owned development bank Vnesheconombank

Nevertheless, Russian users will be able to buy cryptocurrency for rubles through an over-the-counter service, and then transfer it to their trading accounts, Grachev said. The over-the-counter platform is already functioning, but for the time being it is used by very few users from Russia, so Huobi expects to attract new customers to its proposal with a favorable commission rate.

In addition, Huobi intends to issue loans to miners for the purchase of specialized ASIC equipment and lease premises for their placement. According to Grachev, the service can earn in the first quarter of next year.