Crypto at a crossroads: Some provinces are wary of the technology's vast appetite for electricity

4 days ago

Proponents of cryptocurrency mining say the industry’s future in Canada is hanging in the balance after several provinces moved to restrict new projects earlier this year in response to concerns about their electricity usage.

Crypto entrepreneurs — most of them focused on Bitcoin — have been drawn to Canada because of the abundant supply of clean, inexpensive electricity in provinces like British Columbia and Quebec. Most crypto operations need unfettered access to cheap power to operate the rows of high-powered computers required for cryptomining.

“Why Canada? So, first of all, we said, ‘What are the key ingredients you need to run this computing service?'” said Dan Roberts,

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