Chinese miners are looking for the new countries for their mining farms. Chinese Lu Hui transferred his mining farm from China to Siberia.
The Chinese government continues to pressure the cryptocurrency sector. The miners leave China, finding other countries attractive for mining.
Remind, the attractive criteria for mining are cool climate, cheap electricity, high-speed Internet. Now these are such countries as Iceland, Canada, Norway, Russia. But the authorities of Iceland and Canada are concerned about electricity consumption by mining farms, and they try to cope with the surging flow of candidates to open farms in these countries.
Thus, the Canadian province of Quebec has temporarily suspended the registration of new mining companies in the region. The region has a cheap hydropower. However, on Friday, the Canadian newspaper Les Affaires reported that operators who work with Hydro-Quebec, main energy supplier in the region, refused new customers.
The Minister of Energy and Natural Resources of Quebec, Pierre Moreau, said that the miners need a lot of energy, while they create very few number of jobs, he said: "The objective of the government is to insure to all the Quebecois that during the winter, Hydro-Quebec doesn't say, 'well, excuse me, I cannot provide [energy] because we're in the middle of mining cryptocurrency. "
The authorities of Canada are working on new guidelines for crypto-cash enterprises, then they will start accepting applications from the miners for the opening of new companies.
Meanwhile in Russian Siberia, the Chinese Lu Hui opened a big mining farm, which he has transferred from China to Russian Siberia.
According to Lu Hui, his company also plans to open a subsidiary in Canada, since there is quite cheap electricity there.