Quebec’s Kahnawake Mohawk Council Considers Mining Bitcoin With Hydropower – Bitcoin (BTC/USD)

Members of the Mohawk Council of Kahnawake (MCK) and the recently formed Kahnawake Blockchain Technologies (KBT) are considering mining crypto to boost the region’s potential for economic growth.

According to a report by Canada’s Local Journalism Initiative, members of the Mohawk Nation are exploring the possibility of sourcing electricity from Hydro Quebec to power cryptocurrency mining activities.

They are also reviewing crypto mining opportunities that could be added to the Council’s economic development portfolio.

Crypto mining, according to MCK CEO Mike Delislewho also oversees the council’s economic development portfolio could present an intriguing opportunity for Kahnawake residents to increase their income.

“With zero investment and the opportunity to create a new industry here, or at least a new industry within Kahnawake, it’s exciting for revenue generation and for service development,” Delisle was quoted as saying.

MCK is looking for additional energy

The MCK is in the process of asking Hydro Quebec for more power, and at the same time the MCK is in talks with a company called Pow.re about a collaboration.

According to Pow.re, Kahnawake does not have to provide any financial support for this Bitcoin BTC/USD dismantling effort.

“Our revenue generation and business development team has been mandated to sit down and formally negotiate the terms of a potential agreement with Pow.re,” Delisle continued.

Corresponding Paul Ricea Pow.re representative on the local speaker, the financial risk to the community was small.

Rice felt that MCK and the company are trying to reach an agreement that will benefit Kahnawake.

The mining equipment would be stored in shipping containers, according to Rice, and Kahnawake would be entitled to a certain portion of the bitcoin mined as a result of the activity.

The Pow.re representative reportedly said in the LJI report that the site had already been cleared and that there would be little disruption at the site.

This change allows for free rolling on the upside of bitcoin price, according to Rice.

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