The answer to this question is yes and no.
It is possible for foreign students to work in Canada on a study permit and mine bitcoins, but they are not allowed to work more than 20 hours per week. This means that they can only work at the same time that they are attending school. If the student is not attending school, then they can work up to 40 hours per week as long as their employer has applied for a Labour Market Impact Assessment (LMIA) on their behalf.
The
bitcoin mining is not currently allowed on a study permit.