Canadian province to ban new crypto mining connections
British Columbia is moving to ban new crypto mining connections to protect its Hydro power grid. For years, analysts have argued this is the wrong approach.
The government of British Columbia is banning new crypto mining connections to the hydro power grid, citing unprecedented electricity demand.
In a statement on Monday, the British Columbia (BC) government announced a set of new legislation aimed at stimulating the economy and helping the state-owned electric utility provider BC Hydro address its power availability.
“There are significant opportunities in British Columbia’s traditional natural resource sectors, including mining, natural gas and LNG, and in emerging sectors, such as data centers and artificial intelligence (AI). The success of proposed major projects hinges on access to reliable, clean electricity at a competitive industrial rate,” it wrote.