Will Bitcoin fuels the next wave of Real Estate boom in Canada/USA?
Bitcoin mining consumes large quantities of energy because it uses computers to solve complex maths puzzles to validate transactions in the cryptocurrency, which are written to the blockchain, or digital ledger. The first miner to solve the problem is rewarded in bitcoin and the transaction is added to the blockchain. In 2018, we see that many large scale bitcoin mining company has setup pilot sites in North America to take advantage of the cheap electricity tariff as well as cool weather that will reduce the energy intake of the bitcoin mining machines. We see multiple industrial real estate has been snapped up by such mining corporations at Quebec, Washinton and Vancouver. The below are the large corporations snapping up such real estates for its mining facilities: Vancouver, Canada: Hut 8…