Fitzgibbon wants to tighten the screws on cryptocurrency mining farms

The Quebec government has just tabled a decree asking the Régie de l’énergie to “consider” the withdrawal of 270 MW of electrical power dedicated to industrial blockchain projects, most often associated with cryptocurrency mining.

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This is a complete reversal of strategy by the government of François Legault, which recalls in broad strokes the concern of Quebec at not being able to continue to meet all of its energy needs in the short and medium terms.

The new Minister of Economy, Innovation and Energy, responsible for Hydro-Québec, Pierre Fitzgibbon, made the announcement this Thursday morning, by posting a tweet, on Twitter, shortly before 11 a.m.

Bitfarms in Sherbrooke

The short message read as follows: “Considering the high demand for energy, the government has asked the Régie de l’énergie by decree to consider withdrawing the 270 MW reserved for blockchain projects. We remain open to projects that will have greater benefits.”

In the coming weeks, the new committee responsible for coordinating Hydro-Québec’s actions with the new government’s economic development objectives is to meet. Few things have filtered from this committee, except that it will be chaired by the Prime Minister, François Legault.

The Régie de l’énergie, Hydro-Québec, as well as representatives of the industrial sector of the blockchain in Quebec, have not yet reacted to this decision.

More details will follow.

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