Canada could become the world’s bitcoin mining capital as China cracks down
|01/14/2018||Posted by BusinessMediaguide.Com under General World News||
- Bitcoin transactions are enabled by so-called bitcoin miners, who are rewarded for digitally checking transaction records with newly minted bitcoins.
- China is home to the world’s biggest bitcoin miners but is cracking down on the sector due to concerns about excessive energy usage.
- At the same time, Canada is actively courting bitcoin miners as regions like Quebec have excess power capacity.
- Other countries like Kazakhstan and Venezuela are also said to be courting miners.
LONDON — Canada is luring bitcoin mining companies to its shores as China, the current global hub of crypto mining, looks to crackdown on the sector’s energy usage.
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