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Members of the Mohawk Council of Kahnawake (MCK) and the recently established Kahnawake Blockchain Technologies (KBT) are considering mining\u00a0cryptos <\/a>to increase the region’s potential for economic growth.<\/p>\n According to a report <\/a>from Canada’s Local Journalism Initiative, members of the Mohawk Nation are looking into the possibility of obtaining electricity from Hydro Quebec in order to power cryptocurrency mining activities.<\/p>\n They are also looking into crypto-mining opportunities that could be added to the council’s economic development portfolio.<\/p>\n Crypto mining, according to MCK CEO Mike Delisle<\/strong>, who also oversees the council’s economic development portfolio, may present an intriguing opportunity for Kahnawake residents to boost their income.<\/p>\n “With zero investment and an opportunity here to create a new industry, or at least a new industry within Kahnawake, it\u2019s exciting for revenue generation and for the development of services,” Delisle was quoted as saying.<\/p>\n The MCK is in the process of asking Hydro Quebec for more power, and at the same time, the MCK is in talks with a company called Pow.re about a collaboration.<\/p>\n According to Pow.re, Kahnawake will not need to provide financial support for the Bitcoin<\/strong>\u00a0BTC\/USD<\/span> mining effort.<\/p>\n \u201cOur revenue generation and business development team has a mandate to sit down and formally negotiate terms of a possible agreement with Pow.re.\u201d Delisle further said.<\/p>\n According to Paul Rice<\/strong>, a Pow.re representative in the local spokesperson, the financial risk to the community was modest.<\/p>\n Rice was of the opinion that the MCK and the corporation are attempting to reach an agreement that will benefit Kahnawake.<\/p>\n The mining equipment would be stored in shipping containers, according to Rice, and Kahnawake would be entitled to a certain portion of the Bitcoin <\/a>that would be mined as a consequence of the activity.<\/p>\n The Pow.re representative reportedly said in the LJI report that the location had already been cleared and that there would be little disturbance to the grounds.<\/p>\n This change, according to Rice, permits a free roll on the upside of the price of Bitcoin.<\/p>\n Are you ready for the next crypto bull run? Be prepared before it happens! Hear from industry thought leaders like Kevin O\u2019Leary and Anthony Scaramucci at the\u00a0<\/em>2022 Benzinga Crypto Conference<\/a><\/em>\u00a0on Dec. 7 in New York City.<\/em><\/p>\n<\/div>\nMCK seeks additional energy<\/h3>\n