British Columbia Plans Permanent Ban on New Crypto Mining Projects
British Columbia, Canada, is considering a permanent ban on new crypto mining operations connected to its electricity grid. This aims to protect power supplies for industries that support jobs and public revenue.
Impact on Energy Use
- The ban is part of regulatory changes targeting sustainable economic growth.
- Data centers and AI companies will also face new electricity use restrictions.
- The province aims to prevent grid strain and ensure industrial development uses clean energy.
Global Crypto Mining Electricity Demand
- Iran reported that crypto mining contributed to 15-20% of its power deficit, equivalent to the output of two nuclear reactors.
- The Iranian government seized over 240,000 mining devices and offered rewards for reporting illegal operations.
- France plans to use surplus electricity for Bitcoin mining, potentially generating $150 million and reducing wasted energy during low demand periods.