The Public Service Fee of the state of Kentucky has denied a proposed contract that will have allowed a mining agency to obtain a reduced price on electrical energy supplied by the facility firm.
In an Aug. 28 order, the fee denied a contract between Ebon Worldwide and Kentucky Energy Firm which concerned a $50-million funding in a crypto mining facility within the metropolis of Louisa. In keeping with the submitting, Ebon deliberate to run a 100-megawatt (MW) mining operation till 2024, then enhance the load to 250 MW.
The main points of the proposed contract, which had been partially redacted, included Kentucky Energy offering Ebon a reduced price for service over 10 years. The fee introduced in December 2022 that it deliberate to assessment the deal between Ebon and Kentucky Energy.
Wasteful and exploitative #Bitcoin mining firms throughout the U.S. need you to pay increased utility costs for the privilege of getting your neighborhood polluted by Bitcoin’s monumental power consumption.
We’re glad to see Kentucky regulators pushing again.https://t.co/rtDroKOBhP
— Greenpeace USA (@greenpeaceusa) August 31, 2023
Environmental teams Earthjustice and Greenpeace lauded the fee’s resolution as a victory for common power shoppers in Kentucky. Joshua Archer, the Bitcoin Marketing campaign Lead for Greenpeace USA, claimed incentivizing crypto mining corporations to arrange store within the state would have burdened taxpayers and contributed to local weather change.
The state of Kentucky is among the main Bitcoin (BTC) mining hubs in america alongside Texas, Georgia, and New York. Environmental organizations in these areas have pushed for restrictions and bans on crypto mining, leading to New York signing a Proof-of-Work mining moratorium into regulation in November 2022 and a invoice eradicating incentives for miners making it by means of the Texas Senate in April.
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