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B.C. Hydro's Moratorium on Crypto Mining Deemed Reasonable by Provincial Supreme Court Judge

B.C. Hydro's Moratorium on Crypto Mining Deemed Reasonable by Provincial Supreme Court Judge

CointimeCointime2024/02/06 06:34
By:Cointime

A provincial supreme court judge has ruled that British Columbia's provincial power utility, B.C Hydro's, moratorium on crypto mining projects is reasonable. The moratorium was being challenged by Conifex Timber, a forestry company that had planned a mining operation with an indigenous tribe. Justice Michael Tammen stated that B.C. Hydro's ban was grounded on a cost-of-service basis, which aims to preserve affordable energy access for the broader population. Conifex believes that the continued ban is a missed opportunity for the province, while British Columbia is home to a number of zero-carbon footprint mining projects.

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