Authorities in Manitoba halt new crypto mining projects, citing expected increase in electricity demand.
The Canadian province, which relies heavily on hydroelectric generation and attracts miners with low electricity rates, fears it may face overwhelming energy demand.The government of Manitoba is halting new connections of crypto mining centers to the province’s hydroelectric grid, the Canadian press reported. Officials explain the move with the potential for increasing energy demand that the region may not be able to meet.
Providing the reasoning for the decision, Manitoba Minister of Finance Cameron Friesen, the government official responsible for the state-owned company Manitoba Hydro, commented on Monday: With the second-lowest electricity rates in Canada, only Quebec offers cheaper power, Manitoba is a magnet for users that need large amounts of electricity such as those involved in the energy-intensive extraction of cryptocurrencies.
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