Nikolas Sargeant
Canadian province British Columbia unveiled legislation on Monday, October 20 that would ban new Bitcoin mining connections to the power grid.
According to the statement, this move is designed to protect the hydroelectric power grid from unprecedented demand stemming from Bitcoin mining operations. Part of the new rules will go into effect as early as fall 2025.
The legislation is also designed to stimulate other sections of the province’s economy, such as new artificial intelligence data center by allowing the state-owned electric utility provider BC Hydro address its power availability.
“There are significant opportunities in British Columbia’s traditional natural resource sectors, including mining, natural gas and LNG, and in emerging sectors, such as data centers and artificial intelligence (AI). The success of proposed major projects hinges on access to reliable, clean electricity at a competitive industrial rate,” the statement said.
Similarly, two weeks ago in New York State, a state senator introduced legislation to increase taxes on Bitcoin mining in the state. Specifically, New York State Senator Liz Krueger´s proposal contained a tiered energy tax on crypto miners consuming over 2.25 million kWh annually.
Bitcoin mining is now having to compete with AI data centers and their high levels of energy consumption, which could usher in stricter controls where energy is scarcer.
