Canada's state-owned Quebec electricity company asks mines to bid for electricity

According to Cointelegraph, Hydro-Quebéc, the state-owned electricity company in Quebec, Canada, announced a new regulation on June 21 that blockchain companies (mining farms) will be required to bid for electricity and quantify the expected amount of production per megawatt and investment.

The new regulations will seek to allocate up to 500 megawatts of electricity on top of the existing 120 megawatts of electricity. This regulation may lead to an increase in mining electricity costs, which is a big blow to miners in the current environment of falling Bitcoin prices.