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Crypto Mining Company Loses Bid To Force Canadian Utility Company To Provide Power
An anonymous reader quotes a report from Vancouver Sun: A cryptocurrency firm has lost a bid to force B.C. Hydro to provide the vast amounts of power needed for its operations, in a court ruling that upholds the provincial government's right to pause power connections for new crypto miners. Conifex ...
But Justice Michael Tammen ruled Friday that the government's move in December 2022 to pause new connections for cryptocurrency mining for 18 months was reasonable and not unduly discriminatory. Hydro CEO Christopher O'Riley had told the court in an affidavit that the data centers proposed by Conifex would have consumed 2.5 million megawatt-hours of electricity a year. Energy Minister Josie Osborne said when the policy was introduced that cryptocurrency mining consumes "massive amounts of electricity" by running banks of high-powered computers around the clock, but adds "very few jobs" to the local economy.
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