Ocean Falls, an almost abandoned community in the Great Bear Rainforest on the coast of Canada’s western province of British Columbia, is getting a new lease on life, thanks to cryptocurrency mining.
Most likely this is not the only such story, but it is fascinating. Bloomberg tells of Ocean Falls Blockchain, a company created by the Canadian entrepreneur Kevin Day, who set up shop in a remote place that is only accessible by water (seaplane and boat), has no grocery store, has a wet and cold climate, a post office, a bar that only works for a few hours, on some days of the week and between permanent 50-70 residents. But Ocean Falls has one huge advantage – lots of unused cheap electricity, generated by the town’s own dam, operated by Boralex.
The dam was built to power the paper mill that operated in Ocean Falls from the beginning of the 20th century until the early 1980s when the last operations shut down. Once a thriving town of around 5000 residents, with its own hospital and school, Ocean Falls was abandoned by most people and slowly fell in disrepair in a manner similar to many towns across the world that existed around a single industry. The few remaining residents are mainly older people who either did not leave or returned to retire in their hometown. Ac...
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