“Last year was not profitable for many miners,” said Hut 8 CEO Andrew Kiguel. “[But] we believe that bitcoin is the future of digital money and that our work is crucial."
In a handful of oil fields in the Great White North, natural gas, an otherwise wasted drilling by-product, is being put to work. But it’s not being used to well more oil; it’s being used to mine bitcoin.
A number of provincial governments are offering lower rates to attract bitcoin miners and Labrador’s government is considering energy incentives to attract “outstanding requests for service” from bitcoin data processors.
While China continues to dominate the bitcoin mining market, North America has now gained another significant player who can help decentralize mining power. Hut...
