Quote:
The City of Medicine Hat has agreed to supply electricity and lease land to a Toronto-based cryptocurrency mining company in a deal that will see $100 million in construction spending in the southern Alberta city.
The city will provide electric energy capacity of about 42 megawatts to Hut 8 Mining Corp., which will construct bitcoin mining facilities near the city's new Unit 16 power plant.
The operation is expected to be running by September and will triple the company's operating power to 60.7 megawatts, Hut 8 said.
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http://www.cbc.ca/news/canada/calgar...ut-8-1.4584257
This is getting ridiculous. It's going to drive up our power rates, burns fossil fuels and converts electricity to heat. All for what? Nothing. Governments should be banning bitcoin mines if they are serious about reducing greenhouse gases. New York will be charging more for power for miners, but they should just ban them.
https://arstechnica.com/tech-policy/...n-miners-more/
Its a giant Rube Goldburg mechanization. Hey, look at us! We have created the most expensive, power consuming, slow, convoluted method of processing transactions ever!