Hydro-Quebec CEO behind push to ban new energy allocation to BTC miners to depart put up

Sophie Brochu, one in all North America’s strongest leaders within the vitality trade, is leaving her place because the CEO of Hydro-Quebec, the biggest 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 vitality producer and distributor on April 11. In an announcement, she stated that after taking on within the throes of COVID-19, she has stabilized the corporate and believes it’s time to cross the torch.

“Sophie’s contribution—marked by her human method, sturdy communication expertise, and huge expertise within the vitality sector—will stand the take a look at of time. Underneath her management, a brand new strategic plan was developed in collaboration with an important many inner contributors and representatives of Québec society, demonstrating her potential to deliver folks collectively,” board chair Jacynthe Côté commented.

Côté declined to disclose who could be taking on after Brochu.

Brochu grew to become a crucial determine for the Canadian block reward mining trade when she took over the nation’s largest energy producer, Hydro-Quebec. The corporate produces energy for the native market on the least expensive 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 known as on the vitality regulator to allocate energy to the trade.

“In gentle of the numerous improve within the anticipated demand for electrical energy and the tightening vitality 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 trade. Underneath 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 improve strain on present balances,” Brochu’s proposal acknowledged.

Quebec is residence to a number of main BTC miners, and there was hypothesis that they might 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, acknowledged that “its present and future bitcoin manufacturing will proceed for the foreseeable future with out disruption.”

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