Cryptocurrency mining is a power-intensive process that also requires a cool environment.
The power-intensive process of digital currency mining uses approximately 200 to 250 kilowatt hours of power for each transaction. In addition to the substantial use of power, the computers used for mining generate an intense amount of heat and must be continuously cooled.
Manitoba is an ideal destination for cryptocurrency related businesses since it offers:
Low-Cost Utility Rates – Manitoba has some of the lowest electricity rates internationally. The average electricity costs in 2017 for large-power customer in Winnipeg, Manitoba was 5.01 cents per kilowatt-hour. See the chart below illustrating how this rate compares to other regions.
Average Electricity Costs in 2017
|Winnipeg, Manitoba||United Kingdom||Sweden||Estonia|
The Electricity rate this year is even lower with $0.0455/kwh.
In Canada, electricity rates are regulated by the provinces. Manitoba has some of the cheapest commercial hydroelectricity rates in Canada.
Long Cold Winters – Manitoba has average temperatures of 17.9 °C (64.2 °F) in July and −18.3 °C (−0.9°F) in January. Land and building have been acquired and a commitment for 10MW interconnection to the grid (300 meters) has been agreed.
No Federal or Provincial Restrictions on Cryptocurrency Mining – No Canadian Federal Law prohibits anyone from mining, possessing, selling, or trading Bitcoins. Income or capital gain profits may be taxed. Similarly, the province of Manitoba does not prohibit cryptocurrency related businesses.
Clean Renewable Green Energy from Hydro Power Generation – 97 percent of Manitoba’s electricity generation comes from renewable hydroelectricity.
Abundance of Land for Expansion – the province has vasts areas of low-cost industrial land that cryptocurrency-related businesses can expand into.
Our Facility is Located 60 minutes from Brandon Airport – Daily flights are available into Brandom from Vancouver, Calgary and Toronto