MONTREAL – Reuters reports that at least two Canadian pulp and paper companies are reviewing offers by cryptocurrency miners who want to lease excess mill space in Quebec. Electricity prices in Quebec are among the lowest in North America.
Resolute Forest Products and Fortress Global Enterprises said they have received interest from Canadian and foreign cryptominers.
“We are getting inquiries every week,” Resolute spokesman Karl Blackburn told Reuters. “We have space that could be used but there are still a lot of questions.”
The article says cryptominers are looking at the pulp and paper industry because its facilities are already equipped to meet the needs of the energy-sapping cryptomining industry, according to Laurent Feral-Pierssens, blockchain advisory lead at KPMG Canada.
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