British Columbia Supreme Court rejects lifting of mining moratorium | CoinDesk JAPAN

British Columbia’s Supreme Court has ruled that a moratorium on British Columbia’s cryptocurrency mining project was justified.

The moratorium was being challenged by Conifex Timber, a forestry company that has expanded into crypto mining. Conifex was planning a mining operation with the indigenous Tsay Keh Dene Nation.

In his ruling, Judge Michael Tammen said the moratorium, first enacted in December 2022, was reasonable, non-discriminatory and within the scope of the state’s Public Utilities Commission Act. Stated.

Judge Tanmen said the suspension against Hydro was based on the cost of service, taking into account the significant energy demands inherent in crypto mining, and ensuring that a wider range of people had access to affordable energy. It is said that this is the purpose.

“It is well established that crypto mining centers have unique power consumption characteristics.The total amount of megawatt hours required to service all interconnection demands from crypto operations in 2023 “Significantly exceeded Hydro’s expectations,” the judgment states.

Conifex emphasized that continuing the suspension is a missed opportunity for British Columbia.

“Conifex is committed to helping the provincial government improve energy affordability, accelerate innovation, strengthen the reliability and resilience of British Columbia’s electricity grid, and achieve more inclusive economic growth. “We believe this is a missed opportunity to take advantage of,” he said in an official statement to the press.

In November 2022, the state of New York in the United States imposed a two-year moratorium on cryptocurrency mining.

British Columbia is home to a number of off-grid, zero-carbon-footprint mining projects, including Ocean Falls Technology, which harnesses waste electricity from hydroelectric plants in abandoned mining towns.

｜Translation: CoinDesk JAPAN
｜Edited by: Toshihiko Inoue
｜Image: British Columbia Provincial Court (Wpcpey/Wikimedia Commons)
｜Original text: British Columbia Court Backs Ban on Crypto Mining in Canadian Province