Cheap energy favors cryptocurrency mining in Canada
A strategic partnership between Ocean Falls Blockchain and Boralex to buy electricity at low cost would be oriented to crypto mining
The mining of cryptocurrencies has become an activity that generates high profits for those who decide to start in business. This activity could save the Canadian ghost town Ocean Falls, located on the central coast of the country.
For decades, villagers moved to other lands due to the harsh weather conditions in Ocean Falls and the lack of investment. However, there has recently been strong interest from cryptocurrency miners due to the low cost of electricity in the region.
In fact, several entrepreneurs in the town contacted the private company that owns the dam, Boralex, and an agreement was reached with Ocean Falls Blockchain -focused on the mining of bitcoin and ethereum- to buy electricity at low prices.
According to Kevin Day, CEO of Ocean Falls Blockchain, electric power “is practically free“. This makes the town a potential niche for the mining of cryptocurrencies.
Those interested in mining activity will have to face the adverse weather conditions in Ocean Falls, as the remote town is considered the rainiest on the continent.
M.Pino
Source: Cointelegraph
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