Bitcoin Mining Could Resurrect Abandoned Canadian Town

Canadian town Ocean Falls with a total population that barely exceeds 100 people has been tapped by a slew of businesses, but they all failed due to its inaccessibility

Wed, 5/09/2018 - 15:31

Bitcoin Mining Could Resurrect Abandoned Canadian Town

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A remote Canadian town Ocean Falls with a total population that barely exceeds 100 people has been tapped by a slew of businesses, but they all failed due to its inaccessibility. However, Bitcoin mining could be a boon for this abandoned area– lots of miners are willing to work there because of the surplus of cheap power. The town’s resident use only 1/4 of electricity produced by a 13-MW hydro station.

Remarkably, some people in Ocean Falls are not happy about the influx of miners. However, those who are reminiscent of the town’s past (it used to have 5,000 residents), are excited to see how the city is coming to life again.

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About the author

Alex Dovbnya

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.