Kahnawake members are looking into using electricity from Hydro Quebec in order to power cryptocurrency mining operations.
“With zero investment and an opportunity here to create a new industry, or at least a new industry within Kahnawake, it’s exciting for revenue generation and for the development of services,” Delisle said in a statement on Friday. MCK is applying for more energy from Hydro Quebec and the MCK is discussing a partnership with a company called. The company details that the crypto mining project would not require funds from Kahnawake.
Pow.re Spokesperson Says Kahnawake Could Be Paid in Digital Currency for a ‘Free Roll on the Upside of the Price of Bitcoin’ Today, Mohawk Nation has roughly 16,200 members, and close to 3,000 members live off reserve. A great majority of Mohawk Nation members reside in Kahnawake, Akwesasne, and Kanesatake with most of the members living in Kahnawake. According to Bankuti’s report, Pow.re’s local spokesperson, Paul Rice, said the “financial risk to the community is very minimal.” Rice claims the company and the MCK are focused on coming to an agreement that benefits the Kahnawake.
Rice notes that mining rigs would be stored in shipping containers and Kahnawake could get a fixed percentage of the bitcoin mined from the operations. The Pow.re representative further said that the land was already cleared and there would be “minimal impact to the grounds,” according to the LJI reporter. “What it allows for is basically a free roll on the upside of the price of Bitcoin,” Rice added.
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Jimmy Shane clinches seventh Hydro driving title at Mission BayJimmy Shane won his seventh driver’s championship Saturday while driving Miss Homestreet to victory in the first half of the annual Unlimited Hydroplane races on east Mission Bay.
Read more »
Solar-Powered Crypto Farm in Australia to Prove Bitcoin Mining Can Be Green – Mining Bitcoin NewsA crypto mining data center in the state of South Australia will be running mainly on solar-generated electricity, a media report reveals.
Read more »
Bitfarms Starts Bitcoin Megafarm Operations in Argentina – Mining Bitcoin NewsBitfarms informed that In this first phase, the bitcoin mining facility will be able to produce 10 MW of energy to host mining equipment, with mining power expected to grow four times more in 2023.
Read more »
Marathon's Thiel: Regulators should incentivize renewables for bitcoin minersFollowing the White House report on crypto assets and climate, Marathon CEO Fred Thiel argued that regulators should incentivize bitcoin miners to use renewable energy.
Read more »