This Monday, the 1. October, to select the citizens of the canadian province of Quebec, and a new Parliament. According to forecasts, the liberal party could be replaced PLQ as the strongest force. This had last taken care of by the restrictions of the electricity market caused a sensation, and especially Bitcoin-miners. The competing Coalition Avenir Québec (CAQ) should take over the helm of the government, this could bring a new opportunity for the canadian mining industry. The fate of the canadian Miner could decide at the ballot box.
The Bitcoin-El-Dorado in Quebec is dead – came to any other conclusion, the canadian crypto scene this summer. The trigger: The ruling party PLQ had pulled out of a fear of Overload in the power grid – so the official stance – energy-intensive companies, it is literally plug and the advanced booming Bitcoin-Mining-industry, it has a bar. Investors and companies Packed up the tents.
With today’s choice, however, could turn the tide for the franco-canadian miners, however. Because, according to forecasts, the PLQ could be replaced this week from the government’s responsibility. A good chance to take over the helm, the investment-friendly center-Right party, the CAQ. According to forecasts, both counterparties are the same. In the primaries, the CAQ could even have a small lead.
Business-friendly CAQ wants to replace PLQ
In contrast to the liberals, the CAQ is regarded as a crypto-friendly party. Still no official attitude towards the Mining industry is currently not known, however, an entrepreneur determined friendly direction for the industrially weak province of the election program of the CAQ.
The Montreal Journalist François Remy predicted to Forbes:
“The [liberal] government will lose the elections. The other parties such as the Parti Québécois and the CAQ seem to be more open to Blockchain [topics]. You want to attract companies that support them, as well as the cheap electricity prices and the cool climate as a competitive advantage for the economy of Quebec.“
Locals Blockchain-companies feel vindicated. You don’t want to see the Chance to be North American Blockchain Hub.
The backgrounds: The sinking Bitcoin-El-Dorado
Appropriate hopes were become at the end of last year, in 2017, according to. After the Chinese authorities had taken over the mining industry of the country with hard bandages, carried this to an Exodus of miners abroad. Among the objectives of the emigrants: the franco-canadian province.
Similar to how, currently, the Scandinavian countries attracted a Quebec Miner with cheap hydro power, cool weather, empty industrial areas and, not least, political stability.
The latter broke, however, at least in the book of the miners, in this summer suddenly. After the local energy provider, Hydro-Quebec was prepared in January apparently, not all connection requests to serve, together with the policy of the new course.
In June, energy Minister Pierre Moreau announced a Moratorium on all new Mining projects. The official reason: a possible Overload of the power grid.
Interventions in the electricity market: over-load, or political calculation?
There is speculation that it is to act, however, political motives for immigration, the Miner is expected in the medium term, in particular push ahead with the market prices – to the chagrin of the voters.
All of the resident miners have been referred to your power needs for the electric rates competent Régie de l’énergie. Since time immemorial, companies have to bid for access to the electricity grid.
Crypto-Miner, see, in particular, for nepotism and failing attempt to draw the economic change in the province.
So insiders broad Agreement exists in the Blockchain Community as well as Hydro-Quebec in the evaluation that the intervention in the electricity market, “only a political Directive from the liberal government” was followed, Jonathan Hamel of the Montreal Académie Bitcoin to Forbes.
Nevertheless, the interest of the industry abates in the Region is currently not entirely. Documents of the recent IPO, according to, for instance, think of the industry giant Bitmain more about a branch in the province.
Because the hopes of Opening up are not absorbed completely. A victory of the CAQ, you could take this week shape.