Quebec asks energy regulator to withdraw power reserved for blockchain (aka crypto tech)

Quebec Economic/Innovation Minister Pierre Fitzgibbon revealed that the provincial government wants to free up 270 megawatts currently allotted to blockchain for projects with “greater benefits.” Blockchain is the technology that enables the existence of cryptocurrency, via distributed ledger technology (DLT), “a distributed database that maintains a continuously growing list of digital transactions.”

“Considering the strong demand for energy, the government has asked the Régie de l’énergie by decree to consider withdrawing the 270 megawatts reserved for blockchain projects. We remain open to projects that will have greater benefits.”

—Pierre Fitzgibbon

Considérant la forte demande d’énergie, le gouvernement a demandé par décret à la Régie de l'énergie d'envisager de retirer les 270 MW réservés pour des projets de chaînes de blocs.
Nous demeurons ouverts aux projets qui auront des retombées plus importantes.@hydroquebec

— Pierre Fitzgibbon (@MinFitzgibbon) November 3, 2022

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