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The BC government is temporarily suspending requests for power connections from cryptocurrency mining operations, saying the decision is intended to preserve power supply while supporting climate action and economic goals.
A statement from the Department of Energy, Mines and Low-Carbon Innovation says 21 cryptocurrency projects demand a total of 1,403 megawatts, enough to power about 570,000 homes per year, or 2, 1 million electric vehicles.
He says the 18-month suspension will give the province and BC Hydro time to engage with industry and First Nations as a permanent framework for cryptocurrency operations is developed.
Energy Minister Josie Osborne said in the statement that cryptocurrency mining consumes huge amounts of electricity by running high-powered computers around the clock, but adds very little energy. jobs to the local economy.
British Columbia’s electricity is almost entirely generated by hydroelectricity, and the province says it has attracted unprecedented interest from cryptocurrency miners.
The statement said seven operational cryptocurrency mining projects and six other projects well advanced in the login process will not be affected by the suspension.
Their consumption amounts to 273 megawatts.
But, he says if new connections were allowed unchecked, power that would otherwise be used to support the province’s CleanBC goals could be eroded, and little power would be left for projects with greater benefits to the community. employment, the economy and the climate.
This report from The Canadian Press was first published on December 21, 2022.
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