Hut 8 Mining on Sustainability, Expansion and Surviving Crypto Winter

Hut 8 Mining on Sustainability, Expansion and Surviving Crypto Winter

Hut 8 Mining (named after Hut 8 in Bletchley Park, where Alan Turing broke the enigma code and accelerated the end of World War II) has just filed its audited financial statements for 2018, detailing a tight but still profitable bitcoin mining business. For most mining companies, 2018 was a difficult year. But Hut 8 hung in and, despite having to do a write down, was able to post a small profit.
Five Banks Now Let Users Verify Their Identities Using a Blockchain App

Five Banks Now Let Users Verify Their Identities Using a Blockchain App

Five Canadian banks now let customers digitally verify their identities in a “privacy-enhanced and secure way” using blockchain technology. For the effort, Canadian Imperial Bank of Commerce (CBIC), Royal Bank of Canada (RBC), Scotiabank, Toronto–Dominion (TD) Bank and Desjardins Group have integrated with a mobile app called Verified.Me, developed by SecureKey Technologies. SecureKey announced the news Wednesday, explaining that the app – available for both iOS and Android – is built on IBM Blockchain, which in turn is based on Hyperledger Fabric v1.
Central Banks Settle Cross-Border Payments With Blockchain for First Time

Central Banks Settle Cross-Border Payments With Blockchain for First Time

The central banks of Canada and Singapore have concluded a trial of cross-border payments using blockchain technology and central bank digital currencies. The Bank of Canada (BoC) and the Monetary Authority of Singapore (MAS) jointly announced Thursday that the successful trial – the first of its kind between two central banks – showed “great potential to increase efficiencies and reduce risks for cross-border payments.
Canadian Provinces Compete for Attention of Bitcoin Mining Businesses

Canadian Provinces Compete for Attention of Bitcoin Mining Businesses

In Canada, individual provinces are responsible for energy issues, and their interest in Bitcoin mining is growing as several provincial governments have already offered low-cost energy incentives to attract mining operations to their provinces. Quebec, the largest Canadian province, wants in on the action and has overruled its energy provider Hydro-Québec’s request for a rate increase for Bitcoin businesses, in order to allow Bitcoin miners to have the same hydro rate as the largest industrial customers.
Op Ed: We Just Launched the First Cryptocurrency-to-Tax Payment Partnership

Op Ed: We Just Launched the First Cryptocurrency-to-Tax Payment Partnership

Andrei Poliakov is the CEO and co-founder of Coinberry, one of Canada’s premier digital currency platforms. His company is the first in Canada to partner with a government municipality. I am an engineer by trade. Creating more efficient processes, products and eventually building businesses has been a passion of mine since I can remember. When I got involved with blockchain technology, I realized right away the potential benefits the application of this new technology could have on the financial industry.
Canadian Drug Dealer Ordered to Forfeit $1.4 Million in Bitcoin

Canadian Drug Dealer Ordered to Forfeit $1.4 Million in Bitcoin

As part of an ongoing criminal case, a judge in Canada has ordered that a local online drug dealer must forfeit about 281.41 bitcoin (worth about $1.4 million) after it was found that he used the cryptocurrency to fund his illegal activities. It’s been reported as Canada’s largest-ever bitcoin forfeiture. In 2015, local authorities seized the dealer’s laptop and the BTC tokens (worth about $65,885 at the time) were found, according to a report by the Toronto Star.
Now There’s a Canadian Dollar-Pegged Stablecoin on the Way

Now There’s a Canadian Dollar-Pegged Stablecoin on the Way

Cryptocurrency exchange Coinsquare is launching a stablecoin pegged 1:1 to the Canadian dollar (CAD). The exchange plans potential roles for its new “eCAD” token in cross-border payments and remittance, peer-to-peer lending, merchant payment solutions, as well as trade settlements and forex conversions. Coinsquare CEO Cole Diamond said in an announcement Thursday: “The launch of eCAD will create the first transparent, affordable, and secure way of transferring value in Canada and beyond, without the risk of instability in the traditional cryptocurrency market.
Canadian Court Rules Drug Dealer Must Hand Over $1.4 Million in Bitcoin

Canadian Court Rules Drug Dealer Must Hand Over $1.4 Million in Bitcoin

A court in Toronto, Canada, has ruled that a 30-year old drug dealer must forfeit CA$1.88 million (US$1.41 million) in bitcoin used in illegal activities on the dark web. On Wednesday, Superior Court Justice Jane Kelly ordered Matthew Phan to hand over 281.41 bitcoins to the Ministry of the Attorney General, according to a report from The Toronto Star.
In Fourth Report, QuadrigaCX Court Monitor Recommends Bankruptcy Proceedings

In Fourth Report, QuadrigaCX Court Monitor Recommends Bankruptcy Proceedings

QuadrigaCX monitor Ernst & Young suspects that the beleaguered exchange’s late CEO, Gerald Cotten, may have been financing personal expenditures with company funds, and it is now recommending that the assets in Cotten’s estate be placed under a preservation order.
Innisfil Becomes First City in Canada to Accept Bitcoin for Municipal Taxes

Innisfil Becomes First City in Canada to Accept Bitcoin for Municipal Taxes

Ohio might have made history as the first state to accept cryptocurrency for corporate taxes, but one Canadian town is adding its name to the books by becoming the first in North America to permit its citizens to pay their personal taxes in bitcoin.The tiny town of Innisfil (with a population of 36,500), situated about 45 minutes north of Toronto, just approved an initiative that will allow its residents to satisfy their municipal taxes (income taxes and property taxes) in bitcoin, beginning in April 2019.
Energy Incentives Make Bitcoin Mining a Natural Fit for B.C., Canada

Energy Incentives Make Bitcoin Mining a Natural Fit for B.C., Canada

When it comes to bitcoin mining, Canada is a natural.  A temperate climate helps to keep mining equipment cool, and plentiful renewable energy from hydroelectric dams gives Canadian provinces like British Columbia a natural advantage with cheaper electricity costs. B.C. is sitting on a large surplus of hydroelectric energy, as depleted resources have resulted in the closures of many pulp and paper mills and traditional mines. The power surplus is also a result of the success of alternative energy and energy conservation initiatives.
New Shakepay Feature Turns Your Spare Change Into Bitcoin

New Shakepay Feature Turns Your Spare Change Into Bitcoin

Mobile cryptocurrency exchange and peer-to-peer wallet Shakepay has announced a new product that allows its Canadian customers to buy bitcoin with spare change. Dubbed "ShakePay Change," the pre-launch of the service was announced in a Medium post. The new service connects to a user's bank credit and debit card, rounds up every purchase made to the nearest dollar and uses the resulting change to purchase bitcoins automatically.
Canadian Court Takes Custody of Crypto Exchange’s Frozen Funds

Canadian Court Takes Custody of Crypto Exchange’s Frozen Funds

The Ontario Superior Court of Justice has recently moved to take custody of a large sum of assets from a crypto exchange currently frozen in accounts at the Canadian Imperial Bank of Commerce (CIBC). According to a recent court document, the CIBC had frozen several accounts of some disputed assets at the crypto exchange QuadrigaCX, including $25.
University of Guelph Joins Left to Build Mesh Networks in Canadian North

University of Guelph Joins Left to Build Mesh Networks in Canadian North

The School of Computer Science at the University of Guelph has partnered with an award-winning startup to revolutionize connectivity across Northern Canada. The Maple Ridge-based tech company Left has teamed up with the University of Guelph to launch a $2.1 million project with Mitacs to spread Mitacs’ patented mobile mesh network to a wide range of remote communities in Canada.
This Upstart Cryptocurrency Exchange Is Making Inroads in Canada

This Upstart Cryptocurrency Exchange Is Making Inroads in Canada

Cryptocurrency and precious metals exchange Coinsquare is taking steps toward its goal of leading the cryptocurrency exchange market in Canada. On February 20, 2018, it announced a new partnership with Processing.
This Upstart Cryptocurrency Exchange Is Making Inroads in Canada

This Upstart Cryptocurrency Exchange Is Making Inroads in Canada

Cryptocurrency and precious metals exchange Coinsquare is taking steps toward its goal of leading the cryptocurrency exchange market in Canada. On February 20, 2018, it announced a new partnership with Processing.
HashChain Technology Acquires Blockchain Company NODE40

HashChain Technology Acquires Blockchain Company NODE40

HashChain Technology Inc. (HashChain) has acquired the blockchain technology company NODE40 for $8 million USD and 3,144,134 common shares of stock in HashChain (TSXV: KASH) (OTCQB: HSSHF).
HashChain Technology Acquires Blockchain Company NODE40

HashChain Technology Acquires Blockchain Company NODE40

HashChain Technology Inc. (HashChain) has acquired the blockchain technology company NODE40 for $8 million USD and 3,144,134 common shares of stock in HashChain (TSXV: KASH) (OTCQB: HSSHF).

Energy Company Hydro-Quebec Looks to Attract Bitcoin Miners

Hydro-Quebéc (HQ) is a public utility that manages the generation, transmission and distribution of electricity in Quebec, Canada, but it finds itself in a position of generating more power than its customers need. In an article from Le Journal de Québec, Éric Martel, president and CEO of HQ, relates how HQ is facing a death spiral for electricity consumption.

How a Hackathon Birthed the CryptoKitties Origin Story

“CryptoKitties,” the most popular game ever released on the Ethereum blockchain to date, became an instant success in December of 2017.

Cryptocurrency and Blockchain Tech Market Could Reach $10 Trillion in 15 Years, Says RBC Analyst

In a report published on January 3, 2018, Royal Bank of Canada (RBC) Capital Markets analyst Mitch Steves confidently stated that the cryptocurrencies and blockchain technology applications market could increase thirteenfold in 15 years, reaching $10 trillion.

Canadian TSX Venture Exchange Approves Crypto-Mining Company HashChain to Launch Monday

On December 18, 2017, HashChain Technology, a cryptocurrency mining company, went public for the first time on the TSX Venture Exchange under the ticker symbol KASH, joining at least eight other crypto-related startups including HIVE Blockchain Technologies (Genesis Mining).

Bitcoin ‘Keeping Me Awake at Night’: Bank of Canada Governor

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New Bitcoin Mining Centers Set to Increase North American Market Position

While China continues to dominate the bitcoin mining market, North America has now gained another significant player who can help decentralize mining power. Hut 8 Mining Corp (Hut 8) and the Bitfury Group (Bitfury) have announced a partnership that will create North America’s largest bitcoin mining center, located primarily in Alberta, Canada.

Singapore, Canadian Central Banks Unite on Blockchain Cross-Border Payments

Singapore’s central bank has announced a slew of initiatives during the ongoing FinTech Festival, including a notable partnership with the Bank of Canada on cross-border payments using blockchain. On the second day of the week-long Singapore FinTech Festival today, Ravi Menon, director of the Monetary Authority of Singapore (MAS), Singapore’s central bank and financial regulator, spoke at length about Project Ubin – the central bank’s effort to place a tokenized Singaporean dollar (SGD) on a blockchain.