Bitfarms Ltd. (the “Company”) (TASE: BLLCF) (OTCQX: BLLCF), one of the largest blockchain infrastructure companies in the world through its ownership of Backbone Hosting Solutions Inc. (operating under the name “Bitfarms”), is pleased with the Energy Board of Québec’s (the “Energy Board”) decision to not apply an electricity price increase to the blockchain industry within the province.





In a decision rendered on April 29, 2019 the Energy Board rejected Hydro Québec’s targeted rate increase for cryptocurrency miners and rejected the proposed price bidding mechanism for the allocation of new energy blocks. The Energy Board decided to allocate an aggregate additional supply of 300 megawatts of electricity to blockchain customers, in addition to the 368 MW previously granted to existing customers such as Bitfarms. Bitfarms was an active participant in the hearings held during the summer and fall of 2018 at the Energy Board.

Read More at Compelo...



