Canada Continues to Attract More Crypto Mining Companies

Kotone

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Quote from: Jeffery Musk on March 06, 2018, 02:22:49 AM

The country is already welcoming companies moving from China. Energy companies are receiving a lot of requests from firms wanting to establish crypto mining operations in various regions.
Know More: Coinpedia

These are positive news and its great that Canada has been able to accept this kind of operations and transactions. Having Canada and being able to explore the cryptocurrency system there would be a big help not just to the community overall but also to the survivability of bitcoin in general. As we all know a lot of major countries have been breathing down the neck of bitcoin and them seeing that Canada has opened its arms and are being benefitted of it can also greatly change their mind to it.

Missterio

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I think these are positive signs for the whole market. Soon there should be a growth in the market.

Kakmakr

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Something else that count in their favour is the temperature. In Bitcoin mining you are looking for a lower average temperature, because it reduces your cooling expenses. The average temperature for most of the major cities are very low. https://www.currentresults.com/Weather/Canada/Cities/temperature-annual-average.php

The profit margin increase, when you can save electricity cost on not having to use air-conditioning and large fans for most of the year.

Herbert2020

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there are countries in the world that have made the move to adopt cryptocurrencies fully and with open arms. Canada, Japan, even Australia and some Asian countries like Korea are in the list. these countries will do anything they can to compete with each other and grow more in the crypto world and do it as fast as possible. in a couple of years they will be the new developed countries and the rest of the world will be far behind trying to catch up when it is too late.
as for mining, it is just a small part of it, and it is a good part because it helps with the decentralization of mining.

Loveboard

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People keep trying to cut costs when getting into mining. It's kind of ridiculous I guess. And I'm pretty sure more countries will start making regulations against electricity expenditure.

The real answer isn't to go to a country where you can waste unlimited amount of energy just to mine crypto... the answer really is to just invest in renewable energy to keep the government off your back.

Tambu

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Quote from: Jeffery Musk on March 06, 2018, 02:22:49 AM

The country is already welcoming companies moving from China. Energy companies are receiving a lot of requests from firms wanting to establish crypto mining operations in various regions.
Know More: Coinpedia

Canada is the most cryptocurrency friendly country. It's good for her citizens that doing crypto. Hope other countries will follow the same.

CryptoBry

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Quote from: Inn0vative1 on March 11, 2018, 10:58:05 PM

Energy prices in Canada are relatively low, compared to most developed countries: https://www.statista.com/statistics/263492/electricity-prices-in-selected-countries/

Also, keep in mind these are national averages. Some parts of Canada have substantially lower prices than this average. Also, the energy grid is very stable and reliable. This makes Canada an attractive destination for miners.

I heard of the same thing. The availability of cheaper energy is making many parts of Canada as an attractive destination for many Bitcoin mining operations. I do hope that Canada will recognize this good opportunity and will not be doing some unnecessary moves that can severely restrict this burgeoning industry. in order not to compete with the consumer market of the power available, mining should only be allowed if there is an excess power available...this is the best way to avoid frictions and problems for all parties involved. After China, we are now seeing many countries who willingly absorbed what China rejected.

Derek86

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It will eventually attract more miners which were kicked out of their countries, we can not be sure what will going to happen in the future, but if crypto and bitcoin survives, this will be remembered as one of the smartest move for Canada

PauloLuks

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Canada’s abundance of eco-friendly energy resources could also play a huge role in attracting cryptocurrency miners to the country. The Canadian government has also 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.

squatz1

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Smart country, they're going to be able to reap a good amount of money in tax dollars (and jobs, as people have to buy all of the parts to set this up from surrounding stores, maintenance, etc) It's a solid move for them. Kinda surprised this isn't being done in other countries to spur some growth in an emerging market (crypto)

We'll see how this plays out for them though.

Oliver Johnson

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Quote from: Jeffery Musk on March 06, 2018, 02:22:49 AM

The country is already welcoming companies moving from China. Energy companies are receiving a lot of requests from firms wanting to establish crypto mining operations in various regions.
Know More: Coinpedia

I think Canada is a smart country. I want to move my company to Canada too

kaya11

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Quote from: Inn0vative1 on March 11, 2018, 10:58:05 PM

Energy prices in Canada are relatively low, compared to most developed countries: https://www.statista.com/statistics/263492/electricity-prices-in-selected-countries/

Also, keep in mind these are national averages. Some parts of Canada have substantially lower prices than this average. Also, the energy grid is very stable and reliable. This makes Canada an attractive destination for miners.

It's just a matter of time when the bad boys of the government put additional taxes to the electrical bills in a certain country where there are lot of mining facilities running. Here in our region they are adding taxes to the electricity bill. I don't know if it were intended for the miners or it was just another congress bill.

Inn0vative1

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Energy prices in Canada are relatively low, compared to most developed countries: https://www.statista.com/statistics/263492/electricity-prices-in-selected-countries/

Also, keep in mind these are national averages. Some parts of Canada have substantially lower prices than this average. Also, the energy grid is very stable and reliable. This makes Canada an attractive destination for miners.

Jeffery Musk

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The country is already welcoming companies moving from China. Energy companies are receiving a lot of requests from firms wanting to establish crypto mining operations in various regions.
Know More: Coinpedia

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