Quebec was fishing for tech giants but caught bitcoin miners.
At least that’s how David Vincent, business development director at electric utility Hydro Quebec, describes the results of a campaign launched in 2016 to lure the likes of Facebook, Amazon and Microsoft to build their data centers in the Canadian province.
The sales pitch was simple: the province offers plentiful, cheap and renewable electricity, along with cold weather and a politically stable environment.
And while Hydro Quebec has gotten plenty of bites from traditional data center operators, the company also quickly discovered those same traits are equally attractive for cryptocurrency mining operations.
Nonexistent just six months ago, interest in Quebec from commercial-scale bitcoin miners has skyrocketed, Vincent said, amid the surge in cryptocurrency prices and political uncertainty in other jurisdictions.