WHY CANADA IS POISED TO BECOME A PRIME DESTINATION FOR CRYPTO MINING .. ADVANTAGE MINER EDGE
Thursday, July 12, 2018 IST
CANADA GOVERNMENT IS SUPPORTIVE
The Canadian government has taken significant steps towards paving the road for a thriving cryptocurrency space. Most recently, the federal government launched a trial to explore the use of blockchain technology in making government research and grant funding more transparent. The trial will use the Catena Blockchain Suite, a product built on the Ethereum platform.
CANADA MIGHT BE ABLE TO SOLVE CRYPTO MINING ENERGY PROBLEMS
As cryptocurrency mining becomes more prevalent, mining operations increasingly use more energy.
“What’s happening is, with the increasing profitability more and more people start to mine and fight over the reward, and that’s when you ramp up mining facilities to make money. And that’s why the facilities grow, and the energy consumption grows,” explained Marco Marcovici, cryptocurrency expert,
Canada’s abundance of eco-friendly energy resources could play a huge role in attracting cryptocurrency miners to the area.
“You have a huge amount of cheap energy coming from hydropower. I’ve also been looking into it at a plant in Winnipeg,” said Marcovici.
For example, Hydro Quebec offers some of the lowest electricity rates in North America.
CANADA CLIMATE .. IT DOES NOT HURT TO BE SO COLD
Mining rigs generate a substantial amount of heat, meaning that colder temperatures are ideal for mining cryptocurrencies.
“Cooling is a big factor, it’s very important that it has the right cooling there or else you have to be able to equip a power plant in order to use the energy. That’s a big investment and you have to do it in the right spot,” said Marcovici.
Water helps to further reduce cooling costs, which is why Miner Edge decided to build their operation on hydropower. Colder temperatures coupled with Canada’s ample opportunities to utilize hydropower create an attractive combination for Crypto miners,
“Canada is fantastic. We are probably going to be the number one Crypto mining destination of the future.”
Related Topics
Related News & Articles
Come Register at www.mineredge.io / We are Building World’s Larges...
Recently posted . 676 views . 2 min read
Despite the rise in control measures over cryptocurrency trading, observers are almost certain that Chinese investors will continually skirt the ban, which makes it...
Recently posted . 564 views . 2 min read
VANCOUVER: The world's first fully electric commercial aircraft took its inaugural test flight on Tuesday, taking off from the Canadian city of...
Recently posted . 439 views . 2 min read
"My stomach has turned inside out at such a sight," wrote one person in the comments section of the viral video.
Recently posted . 629 views . 1 min read
(Bloomberg) -- Some of the world’s biggest cryptocurrency tycoons are about to find out how much they’re really worth.
Recently posted . 719 views . 1 min read
Trending News & Articles
ALMATY: Hour upon hour, day upon day, Omir Bekali and other detainees in far western China's new indoctrination camps had to disavow the...
Recently posted . 197K views . 1 min read
If you have payed attention to the belly buttons of people on the beach or the members of your family, you have probably noticed that they have different shapes and...
Recently posted . 8K views . 2 min read
Body fitness is one thing that everyone wants to maintain irrespective of age. Going to the gym and doing some great exercise always helps to maintain your body fit...
Recently posted . 3K views . 2 min read
In this age of terror, there might be nothing more terrifying than the thought of an attack carried out with chemical weapons. We’ve all heard the horrific ...
Recently posted . 3K views . 4 min read
More in Global
At least six crypto Youtube channels have reported in recent hours that their content is being removed under the site’s “harmful and dangerous” po...
Recently posted. 561 views . 3 min read
‘First impression is the last impression’, a word of advice you’ve probably come across several times. Whether it’s a formal or an informa...
Recently posted. 940 views . 1 min read
HONG KONG: Buddhism may be touted in the West as an inherently peaceful philosophy, but a surge in violent rhetoric from small but increasingly inf...
Recently posted. 608 views . 1 min read
Recently posted . 874 views
Recently posted . 668 views
Recently posted . 1K views
Recently posted . 2K views
Recently posted . 1K views . 49 min read
Recently posted . 1K views . 99 min read
Why do so many Indians have this overwhelming desire to prove Einstein wrong?
Recently posted. 601 views . 0 min read
Sometimes, rare footage (such as this white humpback whale) is spontaneously captured. When this occurs, the internet can’t help rejoice. Such is the case wit...
Recently posted. 778 views . 2 min read