Bitcoin companies are making power more expensive

There’s so much going on in the world and it can be difficult to understand it all at times β€” by reading this newsletter, you’re getting a digest of the biggest news this week, what it means and why it matters. If you like what you see, send it to a friend or ask them to sign up here.

In both Quebec and New York, the influx of bitcoin companies is causing electric bills to rise

πŸ“Έ:  Pixabay

πŸ“Έ: Pixabay

Now that the price of a single bitcoin is hovering at over $10,000, more and more companies trying to acquire the currency (by "mining" it) are popping up. There's not really any drawbacks for these companies, because for a little bit of money spent on servers and power, they can reap in hundreds of thousands of dollars.

The fiasco is aided by low hydro cost in Quebec, which is provided by large hydroelectric generators. In fact, there was so many companies applying to open there that the premiere is thinking of blocking them, or raising the price of power for them alone.

Meanwhile in New York, the same thing is happening. Hydro companies are now legally allowed to charge bitcoin companies more than other customers because of the mass amount of power they consume. This way, they argue, residential customers won't see their bills rise for electricity they weren't using.

"We're not really interested": Quebec throws cold water on Bitcoin miners seeking cheap power and New York power companies can now charge Bitcoin miners more

Number of the week

πŸ“Έ:  Pixabay

πŸ“Έ: Pixabay

Incidents involving dogs are highest with United Airlines, which is facing backlash after a dog dies when it was wrongly forced into an overhead compartment by a flight attendant.

For every 10,000 animals transported on the airline, there are 2.2 incidents involving animals. This might not seem like a lot, but when you think of the emotional connection people have to their animals, it makes for quite an issue.

Outcry Over Dead Dog Intensifies Pressure on United CEO

In case you missed it

- A new study from Wikipedia suggests that when people visit the website, a lot of them are just looking to go down an information rabbit hole.

- The Information, which is sadly behind a paywall, goes into depth over the disasters that have plagued the technology behind Siri from the day it was bought by Apple. It started as a futuristic virtual assistant before being pared down by the company's execs, and all went to sh*t when the original team left the company.

- If you have brought your device to Best Buy to be repaired over the last decade, there's a good chance it's been riffled through by an employee, many of whom have been secret informants for the FBI.

- People go to great lengths to become famous on Instagram, including quitting their jobs and shelling out thousands of dollars per month to live the "lavish" life, when much of the time they're making no money in return