Quebec’s Mohawk Council of Kahnawake Seeks Energy to Power Crypto-Mining Opportunities – Mining Bitcoin News

According to a report by the Canadian Local Journalism Initiative, members of Kahnawake’s Mohawk Nation are examining Hydro Quebec’s use of electricity to power cryptocurrency mining operations. The Mohawk Council of Kahnawake (MCK) has created a new organization to research cryptocurrency mining opportunities that could be added to the municipality’s economic development portfolio.

Mohawk Council Members Create Kahnawake Blockchain Technologies, Cryptocurrency Mining Research Group

Members of the Mohawk Council of Kahnawake (MCK) and fledgling Kahnawake Blockchain Technologies (KBT) are interested in expanding its economic development opportunities with cryptocurrency mining. Marcus Bankuti, a reporter with the Local Journalism Initiative (LJI), published an an item

on MCK looking for energy to produce a cryptocurrency mining unit. Bankuti quotes MCK chief Mike Delisle, who is in charge of the board’s economic development portfolio. Delisle believes cryptocurrency mining could provide an exciting earning opportunity for Kahnwak residents.

“With zero investment and an opportunity here to create a new industry, or at least a new industry within Kahnawake, it’s exciting for revenue generation and service development,” Delisle said in a statement Friday. MCK is requesting more energy from Hydro Quebec and MCK is discussing a partnership with a company called Pow.re. The company details that the cryptocurrency mining project would not require funds from Kahnawake. “Our revenue generation and business development team has a mandate to sit down and formally negotiate the terms of a possible deal with Pow.re,” added Delisle.

Pow.re spokesperson says Kahnawake could be paid in digital currency for a “free roll to the upside of the bitcoin price”

Today, Mohawk Nation has around 16,200 members and nearly 3,000 members live off the reservations. The great majority of the members of the Mohawk Nation reside in Kahnawake, Akwesasne, and Kanesatake with the majority of the members (7,923) living in Kahnawake. According to the Bankuti report, Pow.re’s local spokesman, Paul Rice, said that “the financial risk to the community is minimal”. Rice says the company and the MCK are focused on reaching a deal that benefits the Kahnawake.

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Rice notes that the mining rigs would be stored in shipping containers and Kahnawake could get a fixed percentage of the bitcoin (BTC) extracted from operations. The Pow.re representative further said that the land had already been cleared and that there would be “minimal impact on the land,” according to the LJI reporter. “What it basically allows is a free roll on Bitcoin’s price hike,” Rice added.

Tag in this story

Akwesasne, Bitcoin, Bitcoin (BTC), Bitcoin mining, Blockchain, BTC Mining, Canada, Crypto, crypto mining, cryptocurrency mining, Digital Currency Mining, Kahnawake, Kahnawake Blockchain Technologies, Kanesatake, Local Journalism Initiative (LJI), MCK, mining , Mining Crypto, Mohawk, Mohawk Council of Kahnawake, members of the Mohawk Nation, Paul Rice, Pow.re, representative of Pow.re, spokesperson for Pow.re, Quebec

What do you think of the Mohawk Council of Kahnawake examining cryptocurrency mining opportunities? Let us know what you think about this topic in the comments section below.

Jamie Redman

Jamie Redman is the News Lead of Bitcoin.com News and a financial technology journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open source code and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for Bitcoin.com News on the disruptive protocols emerging today.




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