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British Columbia Court Upholds Ban on Cryptocurrency Mining Amid Legal Battle

Twitter icon  •  Published il y a 2 mois  •  Nikolas Sargeant

Conifex, a cryptocurrency mining firm based in British Columbia, contested B.C. Hydro's 18-month mining moratorium.

In a recent ruling, a provincial supreme court judge declared British Columbia Hydro's moratorium on cryptocurrency mining reasonable. The legal dispute involved Conifex Timber, a forestry company diversifying into crypto mining, collaborating with the Tsay Keh Dene Nation.

Justice Michael Tammen stated the moratorium, initiated in December 2022, was fair, non-discriminatory, and aligned with the province's Utilities Commission Act. B.C. Hydro's ban aimed to manage the substantial energy demands of crypto mining while ensuring affordable energy access.

Conifex expressed disappointment, viewing the ban as a missed opportunity for energy improvement and economic growth. Despite this, the court upheld the ban, emphasizing the unique energy consumption of crypto mining.

Author

Nikolas Sargeant

Nik is a content and public relations specialist with an ever-growing interest in Crypto. He has been published on several leading Crypto and blockchain based news sites. He is currently based in Spain, but hails from the Pacific Northwest in the US.