Why Canada Looks like the Next Bitcoin-Mining Haven
Some of the world’s biggest cryptocurrency-mining operations are eyeing a move to Canada, tempted by cheap electricity and a cool climate.
The news: According to CoinDesk, a campaign by electrical utility Hydro-Quebec to entice companies into building data centers in the province ended up tempting numerous cryptocurrency-mining operations looking to move from other countries. Reuters also reports that Bitmain, one of China’s largest Bitcoin-mining firms, is looking at sites in Quebec and Manitoba.
The backstory: Around two-thirds of the world’s Bitcoin-mining capacity is located in China. Some operations are now plotting moves to other countries, amid what could be a broad crackdown on Bitcoin mining.
Why Canada? Mining rigs generate lots of heat, making colder environments ideal. Besides that, Hydro-Quebec offers some of the cheapest electricity in North America, and Canada’s overall political stability doesn’t hurt, either.
Keep Reading
Most Popular
Large language models can do jaw-dropping things. But nobody knows exactly why.
And that's a problem. Figuring it out is one of the biggest scientific puzzles of our time and a crucial step towards controlling more powerful future models.
The problem with plug-in hybrids? Their drivers.
Plug-in hybrids are often sold as a transition to EVs, but new data from Europe shows we’re still underestimating the emissions they produce.
How scientists traced a mysterious covid case back to six toilets
When wastewater surveillance turns into a hunt for a single infected individual, the ethics get tricky.
Google DeepMind’s new generative model makes Super Mario–like games from scratch
Genie learns how to control games by watching hours and hours of video. It could help train next-gen robots too.
Stay connected
Get the latest updates from
MIT Technology Review
Discover special offers, top stories, upcoming events, and more.