Bitfarms founder and president Pierre-Luc Quimper, right, and CEO Wes Fulford are seen at their bitcoin mine in Magog, Que. ( Paul Chiasson / THE CANADIAN PRESS )Known as hashing, the hunt for cryptocurrency is essentially an exhaustive attempt by a computer to solve a mathematical problem. Every second, each computer in Bitfarms’ factory in Magog, Que., conducts 13.5 trillion attempts at solving a math problem. Hydro-Quebec recently designated 668 megawatts for the growing cryptocurrency sector, more than is consumed by the province’s conventional mining industry. Cities across Quebec purchase enough electricity from Hydro-Quebec to satisfy peak demands, most often during the dead of winter.

Source: thestar May 13, 2019 08:03 UTC