Quebec Mohawk Council in Kahnawake Seeks Energy to Launch Crypto Mining Opportunity – Bitcoin Mining News

Quebec Mohawk Council in Kahnawake Seeks Energy to Launch Crypto Mining Opportunity – Bitcoin Mining News

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

Mohawk Council Members Create Kahnawake Blockchain Technologies, Crypto-Mining Research Group

Members of the Mohawk Council of Kahnawake (MCK) and newly formed Kahnawake Blockchain Technologies (KBT) are interested in expanding their economic development opportunities through cryptocurrency mining. Marcus Bankuti, reporter of the Local Journalist Initiative (LJI) announced article on MCK looking for energy to produce a cryptocurrency mining unit. Bankuti quotes MCC boss Mike Delisle, the council’s portfolio manager for economic development. Delisle believes that cryptocurrency mining could provide an exciting income opportunity Kahnawake citizen.

“With zero investment and the opportunity to create a new industry, or at least a new industry within Kahnawake, it’s exciting for revenue generation and for service development,” Delisle said in a statement Friday. MCK is applying for more energy from Hydro Quebec and MCK is discussing a partnership with the so-called Pow.re. The company states that the crypto mining project will not require funds from Kahnawake. “Our revenue generation and business development team is mandated to sit down and formally negotiate the terms of a possible agreement with Pow.re,” added Delisle.

Pow.re spokesperson says Kahnawake could be paid in digital currency for ‘free roll on Bitcoin price’

Today, the Mohawk Nation has approximately 16,200 members, with close to 3,000 members living off the reserve. The vast majority of Mohawk Nation members live in Kahnawake, Akwesasne and Kanesatake, with the majority of members (7,923) living in Kahnawake. According to Bankuti’s report, Pow.re’s local spokesperson Paul Rice said that “the financial risk to the community is very minimal”. Rice claims the company and MCK are focused on reaching an agreement that benefits Kahnawake.

Rice notes that mining rigs would be stored in shipping containers and that Kahnawake could receive a fixed percentage of bitcoins (BTC) mined from operations. A Pow.re representative went on to say that the land has already been cleared and that according to the LJI reporter, there will be “minimal impact on the terrain”. “What it enables is basically a free spin on the price of Bitcoin,” Rice added.

Tags 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), ICRC, mining, Mining Crypto, Mohawk, Mohawk Council of Kahnawake, Members of the Mohawk Nation, Paul Rice, Pow.re, Pow.re rep, Pow.re spokesperson, Quebec

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

Quebec Mohawk Council in Kahnawake Seeks Energy to Launch Crypto Mining Opportunity – Bitcoin Mining News

Jamie Redman

Jamie Redman is a news anchor at Bitcoin.com News and a financial technology journalist based 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 about the disruptive protocols emerging today.




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