Bitcoin [BTC] mining: imminent existence in Québec to be decided after general elections

The province of Québec, Canada, will be electing members to the National Assembly on 1st October 2018 and its result could decide the future of Bitcoin mining in the province, according to Forbes.

This is the first time Québec is holding general elections. This is because there was discord about the distribution of electricity for Bitcoin miners in the province. Earlier this year, tension arose when Bitcoin miners from China and other places started demanding for an increase in the electricity supply from Hydro-Québec, the state-owned electric utility.

Ever since then, the Québec provincial government has increased the electricity cost. The government further restricted the supply of electricity to customers involved in mining activities.

According to the present government, restrictions on Bitcoin mining was a result of a lack of grid capacity. Additionally, the government stated that they were not economically capable of sourcing the electricity required for Bitcoin mining.

However, organizations in Québec believe that this was among a series of measures taken to drive away any threat to investment in the blockchain space and opportunities in technological innovation.

François Remy, a former columnist at a Montreal-based business newspaper stated that the measures applied by the present government has damaged several mining operations in the province. Remy further added that the cryptocurrency community was not happy about the move.

The October elections will see The Québec Liberal Party competing against the Coalition Avenir Québec [COA], a center-right provincial party in Québec. The locals in the province believe that if the COA wins, the party will be in favour of Bitcoin mining operations.

François Remy said that Québec Liberal Party will most probably lose the elections. He further said that the COA wants to engage in blockchain-based companies that use cheap electricity and cold climate as a competitive advantage for the economy of Québec.

The post Bitcoin [BTC] mining: imminent existence in Québec to be decided after general elections appeared first on AMBCrypto.