Wednesday, 19 June 2024

Crypto Mining News

Canadian province New Brunswick has denied energy to crypto miners for months

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New Brunswick’s main power company began to deny energy applications from crypto miners and other large-scale users in 2022, the CBC said on May 1.

The cabinet order that endorsed the moratorium included concerns from the province’s main power company. N.B. Power expressed concerns about “additional load demand” and warned that crypto mining could put “significant pressure” on the energy supply.

It is unclear exactly when the moratorium on energy access for crypto miners began, as the policy seemingly went unnoticed until the CBC’s latest coverage.

However, New Brunswick’s provincial government endorsed the moratorium in March 2022, and the CBC’s latest report indicates that the policy remains in place.

New Brunswick’s government also ordered a review of the crypto sector and its impact on the energy supply. That order remains private but was due December 2022 and was intended to ensure that restrictions do not continue to affect non-crypto companies.

The moratorium was introduced shortly after a crypto mining company, Taal Distributed Information Technologies, expressed its intent to begin operating in New Brunswick. Another firm, Hive Blockchain Technologies, already operates in the province.

Other Canadian provinces, including British Columbia, Manitoba, and Quebec, have imposed similar moratoriums. In the U.S., North Carolina and New York have imposed restrictions. These policies may or may not remain in place.

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