Traveling to Western Canada is an eye-opening experience as the number of lakes, mountains as well as temperate climate can help keep mining equipment cool. There are many hydroelectric dams and thus one always has an abundant source of cheap energy, generally electricity costs are low compared to other countries including the US. British Colombia is sitting on a large surplus of hydroelectric energy and the closer of traditional pulp and paper mills opens up the question about the future of Bitcoin mining. The press has reported that this is good news for those who are focused on energy conservation and for the Bitcoin mining footprint in the future.
There have been numerous requests to the British Colombia Utilities Commission for 5,000 megawatts in energy demand for the crypto-mining industry. It is now becoming an important future industry for government planners as they see this as a new form of clean and environmentally friendly business that is suited for the low electricity produced in the province. For now, the plan is the the Bitcoin mining startups would rent these power utilities at reduced rates.
Canada has, since the beginning, played a leadership role in the Bitcoin space and now aims to be a low cost provider of energy that could make a mining powerhouse for Bitcoin and other related businesses in the future. Currently, Bitcoin miners are using a previously abandoned power-generating station and transmission lines in Ocean Falls, British Colombia. Others are being sourced in Houston, B.C.