In order to preserve its clean energy resources, support its climate action and meet its economic goals, British Columbia has decided to suspend requests for cryptocurrency mining electrical connections, which allow transactions to be validated, for 18 months.
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This pause will give the government ample time to engage with industry and First Nations and develop a permanent framework for future cryptocurrency mining operations.
“Cryptocurrency mining uses huge amounts of electricity to power and cool computers, while creating little employment in the local market,” said energy, mines and innovation carbon sober minister Josie Osborne.
“We are suspending electricity requirements from cryptocurrency networks to reserve our electricity resources for people switching to electric vehicles and heat pumps, and for businesses and industries undertaking projects that reduce carbon emissions and generate jobs and economic opportunities,” it added she.