British Columbia to Stop New Power Connections for Crypto Miners
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British Columbia To Halt Electrical Connections for Crypto Miners
The British Columbian government announced the suspension in a statement on December 21. The statement declared that the break would enable the province and BC Hydro to create a long-term structure that will better balance the requirements of cryptocurrency miners with those of the area's people and companies.
Josie Osborne, Minister of Energy, Mines, and Low Carbon Innovation, stated that the decision was taken to protect the green energy it offers to its citizens and companies that are more ecologically friendly and generate jobs.
BC Hydro Serves 7 Crypto Mining Services
Cryptocurrency mining creates relatively little employment in the local economy and requires vast electricity to operate through powerful computers 24/7/365.
Currently, BC Hydro serves seven cryptocurrency mining facilities. There are six more, totaling 273 megawatts, connected to the system and are likely to be unaffected. According to the statement, 21 cryptocurrency mining projects now demand a total of 1,403 megawatts of power. However, new projects will not be able to start the process termed with BC Hydro, and those in the early phases of the pairing process will also be stopped. The Ministry stated that this is comparable to the energy required to power about 570,000 houses or 2.1 million electric cars in the province each year.