A cryptocurrency mining company has lost a bid to force BC Hydro to provide the large amounts of power it needs for its high-performance computer operation. As Aaron McArthur reports, the move upholds the province's pause on power connections for new crypto miners – Feb 7, 2024A statement from the Ministry of Energy says cryptocurrency miners consume large amounts of electricity to constantly run high-powered computers while creating very few jobs or economic opportunities.
It says the legislative amendments would allow the government to prohibit or restrict the provision of electricity to cryptocurrency miners because “unchecked growth” of the sector could make it challenging and more costly to provide electricity to homes and other businesses.The province directed the BC Utilities Commission in December 2022 to suspend new electricity connections for cryptocurrency mining for 18 months.
The statement says 21 projects, requesting a total of 11,700 gigawatt hours of power per year, were temporarily suspended from receiving power.It says that amount of electricity is more than double what the new Site C dam will be able to generate. Proposed changes also include amendments to repeal sections of the Clean Energy Act used to create the former government’s Standing Offer Program to buy electricity.Fire chiefs lament drop in volunteers ahead of what’s expected to be a devastating wildfire season