Canadian mining cryptocurrency may stop

With the advent of cryptocurrency, many began its prey. The problem did not appear immediately but was growing gradually. Getting Bitcoin just playing a game on the phone is no longer possible. Already since 2011 mining centers began to develop. Bitcoin mining was not accompanied by such a large amount of energy and was available to many. But with the increase in the price of e-currency, mining received a greater development. Electricity fees increase several times. Canada was the largest mining center for Bitcoin. Many miners placed their centers there and mined cryptocurrency. Since the electric charge has been reduced to a mining cryptocurrency. The major power company Hydro-Quebec is going to review its operations, as the stations do not withstand such a stream of Bitcoin mining.

Interesting fact

In 2011, Bitcoin mining took about 4 days. Those. with the help of a mining farm, it was possible to extract one Bitcoin in 4 days in total. If we compare the present time, then bitcoin is mined in about three or even 4 weeks. This is due to a large number of miners, and a special pattern. The more people get Bitcoin, the longer it will be produced. Today, many mining farms are closing, as it has become unprofitable. The equipment costs several million dollars, and you need to take into account the time and amount of electric charges.

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Is Hydro-Quebec shut down?

As the catfish company says, the number of applications for placement of equipment for mining enters about 70 per day. With such a rush cannot cope not alone power. In connection with such events, the company cannot satisfy all projects. Recall that the largest number of mining centers was in China. Just a week ago, China closed several stock markets trading cryptocurrencies. And it intends to stop completely mining cryptocurrency in the center. What will lead to such a policy to the end is unknown. But the fact that the authorities are concerned about the cost of energy is evident to all.

Alternative. Expert opinion

According to the experts, the mining cryptocurrency center has already destroyed the amount of electricity for 10 years ahead. It is estimated that the amount of energy absorbed by the farm can provide about 60 houses with light around the clock. As long as Bitcoin rises in price, interest will grow. The alternative to such actions is only the acquisition of cryptocurrency through the stock exchange. And experts consider this the most profitable investment and the acquisition of currency today. Want to know more about investing in cryptocurrency, fill out an application on our website.