Miners may obtain inexpensive electricity and cold winters for inexpensive cooling there.
Mr.Bertrand, a Canadian Entrepreneur runs 50 ASICS when each units coasts nearly 21$ per day while it produces nearly 470 $.
Such abundance of electricity attracts big mining companies from China and Iceland.
Montreal state-owned enterprise called Hydro-Quebec realizes the distribution of power in Quebec. Because of 40% of all Canadian water resources are focused in Quebec, Hydro-Quebec is one of the most powerful producer of electricity in the world. Hydro-Quebec provides 4.55 $ per kWh. It also plans to provide additional 500 kWh per 2.58 $ by April 2018.
The Chinese Bitcoin miners began arriving to Quebec looking for alternative locations to place their operations and increase proceeds while Chinese government hunts down such initiatives.
These are really big players who contact us. The Bell Center in Montreal consumes the equivalent of 5 megawatts of power. The players who contact us [consume] from 5 megawatts to several hundred megawatts of power.
Eric Filion, Hydro-Quebec’s Vice President of Customers.