- British Columbia has paused new electric connection requests to support climate action and economic goals.
- Meanwhile, the province will develop a long-term framework for future crypto miners.
- 21 projects are currently requesting 1,403 MW of power that will be temporarily halted.
Canada’s province, British Columbia has paused new electricity connection requests from crypto miners for 18 months. The move is taken with the aim of supporting British Columbia’s climate action and economic goals.
As per a press release by British Columbia, the decision to temporarily halt requests will ‘preserve’ the electricity supply of the province. The suspension will also give the government and BC Hydro enough time to engage with industry and First Nations, and also developing a long-term framework for any future cryptocurrency mining operations.
The Minister of Energy, Mines and Low Carbon Innovation, Josie Osborne stated:
We are suspending electricity connection requests from cryptocurrency mining operators to preserve our electricity supply for people who are switching to electric vehicles and heat pumps, and for businesses and industries that are undertaking electrification projects that reduce carbon emissions and generate jobs and economic opportunities.
He added that cryptocurrency mining consumes huge amounts of electricity but creates only few jobs in the local economy.
As per the statements, 21 projects are currently requesting a total of 1,403 MW of power that will be temporarily halted. This amount is equivalent to the energy that is consumed by nearly 570,000 homes, or 2.1 million electric vehicles, per year in the province.
However, operational cryptocurrency mining projects and projects that are well advanced in BC Hydro’s connection process will not be affected.
The ministry has clarified that seven operational cryptocurrency mining projects and six more that are already advanced in BC Hydro’s connection process will not be affected by the suspension. These projects consume 273 megawatts in total.
Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.
