A cryptocurrency firm has lost a bid to force BC Hydro to provide the vast amounts of power needed for its operations, upholding the provincial government香蕉视频直播檚 right to pause power connections for new crypto miners.

Conifex Timber Inc., a forestry firm that branched out into cryptocurrency mining, had gone to the B.C. Supreme Court to have the policy declared invalid.

But Justice Michael Tammen ruled Friday that the government香蕉视频直播檚 move in December 2022 to pause new connections for cryptocurrency mining for 18 months was 香蕉视频直播渞easonable香蕉视频直播� and not 香蕉视频直播渦nduly discriminatory.香蕉视频直播�

BC Hydro CEO Christopher O香蕉视频直播橰iley had told the court in an affidavit that the data centres proposed by Conifex would have consumed 2.5 million megawatt-hours of electricity each year.

That香蕉视频直播檚 enough to power and heat more than 570,000 apartments, according to data on the power provider香蕉视频直播檚 website.

Energy Minister Josie Osborne said when the policy was introduced that cryptocurrency mining consumes 香蕉视频直播渕assive amounts of electricity香蕉视频直播� by running high-powered computers around the clock, but adds 香蕉视频直播渧ery few jobs香蕉视频直播� to the local economy.

In a statement released Monday, the company said it香蕉视频直播檚 香蕉视频直播渄isappointed香蕉视频直播� with the court香蕉视频直播檚 ruling and is mulling an appeal.

香蕉视频直播淐onifex continues to believe that the provincial government is missing out on several opportunities available to it to improve energy affordability, accelerate technological innovation, strengthen the reliability and resiliency of the power distribution grid in British Columbia, and achieve more inclusive economic growth,香蕉视频直播� the statement said.

Before the provincial government paused new power connections for cryptocurrency miners, BC Hydro released a report outlining the 香蕉视频直播渃onundrum香蕉视频直播� they represent to the utility provider.

The report said power demand from cryptocurrency mining operations would challenge clean energy and electrification goals as adoption of things such as electric vehicles and heat pumps increase.

The report said bitcoin mining requires enough energy to power 香蕉视频直播渁 small country,香蕉视频直播� and moratoriums on crypto mining in China, Algeria and some U.S. states 香蕉视频直播渃reated a significant increase in demand for power in B.C. by cryptocurrency mining operations.香蕉视频直播�

The court ruling said connection requests over the last few years from cryptocurrency miners in B.C. 香蕉视频直播渇ar exceeded香蕉视频直播� BC Hydro香蕉视频直播檚 projections.

It said the pause ordered by the government was in response to 香蕉视频直播渢he very real prospect that devoting such a large proportion of the available electrical power supply to one industry would leave less energy for other uses which might result in increased costs to all other residential and industry customers in B.C.香蕉视频直播�

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