British Columbia seeks permanent ban on new crypto mining projects
Quick Take British Columbia announced plans to permanently ban new crypto mining connections to BC Hydro, the provincial power utility. The Canadian province said it intends to allocate enough electricity to job-producing sectors such as mining, natural gas and LNG.
British Columbia, Canada's third-largest province by population, said it plans to permanently ban new crypto mining projects from connecting with government electricity to preserve the region's power supply.
"These actions [will] address unprecedented demand for electricity and ensure that B.C. and Canadian economic interests are reflected in the allocation of British Columbia’s growing clean-electricity supply," the press release said .
The Canadian province has already submitted the energy statutes amendment act to the regional legislature on Monday, which would ensure that electricity is available for sectors that are expected to produce jobs and generate public revenue.
It also cited cases in other jurisdictions where unchecked power demands from emerging sectors resulted in significant rate increases for taxpayers.
"Our new allocation framework will prioritize vital growth in sectors like mining, natural gas and lowest-emission LNG, while ensuring our clean energy is directed to projects that deliver the greatest benefit to British Columbians," said Adrian Dix, Minister of Energy and Climate Solutions.
Starting in fall 2025, British Columbia plans to introduce multiple policy adjustments that would limit power allocations to data centers and AI, and enact a total ban on new crypto mining power connections to BC Hydro, its provincial power utility that relies primarily on hydroelectricity.
British Columbia has already placed a moratorium on new crypto mining connections in 2022, and the policy change is expected to make this suspension permanent.
"This legislation will help us move faster on the North Coast Transmission Line, a nation-building project that will deliver clean electricity to responsibly power industrial growth and job creation," said David Eby, Premier of British Columbia.
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