Mining
Sophie Brochu, certainly one of North America’s strongest leaders within the power business, is leaving her place because the CEO of Hydro-Quebec, the most important energy utility in Canada. Brochu was a critic of block reward mining and was behind a push to ban new energy allocation to BTC miners.
Brochu, who took over the reins at Hydro-Quebec in April 2020, will likely be exiting the power producer and distributor on April 11. In a press release, she mentioned that after taking on within the throes of COVID-19, she has stabilized the corporate and believes it’s time to move the torch.
“Sophie’s contribution—marked by her human strategy, robust communication abilities, and huge expertise within the power sector—will stand the take a look at of time. Beneath her management, a brand new strategic plan was developed in collaboration with an incredible many inside contributors and representatives of Québec society, demonstrating her capacity to carry folks collectively,” board chair Jacynthe Côté commented.
Côté declined to disclose who could be taking on after Brochu.
Brochu grew to become a vital determine for the Canadian block reward mining business when she took over the nation’s largest energy producer, Hydro-Quebec. The corporate produces energy for the native market on the most cost-effective charges in Canada and exports it to the US.
In November 2022, she grabbed headlines within the digital asset world after proposing that Hydro-Quebec cease offering energy to miners as demand from different sectors surged. She additional referred to as on the power regulator to allocate energy to the business.
“In mild of the numerous enhance within the anticipated demand for electrical energy and the tightening power and capability balances, Hydro-Quebec filed a request with the Regie de l’energie concerning the suspension of the allocation course of to the blockchain business. Beneath this course of, roughly 270 MW have been slated to be devoted to cryptographic use over the brief time period, however the allocation of that quantity of capability to this use would enhance stress on present balances,” Brochu’s proposal said.
Quebec is residence to a number of main BTC miners, and there was hypothesis that they’d be booted out of the province. Nevertheless, some, like Argo Blockchain (NASDAQ: ARBKF) and Bitfarms (NASDAQ: BITF), launched statements clarifying their energy provide wouldn’t be affected. The latter, reportedly investing $260 million in Quebec, said that “its present and future bitcoin manufacturing will proceed for the foreseeable future with out disruption.”
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