An anonymous reader cites a report from the Vancouver Sun. A cryptocurrency company loses a bid to force BC Hydro to provide vast amounts of electricity needed to operate its operations, with court ruling upholding provincial government's right to suspend power connections for new cryptocurrency miners. The verdict was handed down. Conifex Timber, a forestry company that has expanded into cryptocurrency mining, has appealed to the Supreme Court of British Columbia, seeking to have the policy declared invalid. However, Judge Michael Tammen ruled on Friday that the government's December 2022 move to suspend new connections for cryptocurrency mining for 18 months was reasonable and did not constitute unfair discrimination. .
BC Hydro CEO Christopher O'Reilly said in an affidavit that Conifex's proposed data center would consume 2.5 million megawatt-hours of electricity annually. That's enough to power and heat more than 570,000 apartments, according to data on the utility's website. Energy Secretary Josie Osborne said when the policy was introduced that crypto mining consumes “huge amounts of electricity” by keeping banks of high-powered computers running around the clock, but adds “very few jobs” to local economies. He said he would not add it. The company said in a statement Monday that it was “disappointed” with the court's decision and was considering an appeal. “Conifex is working with the provincial government to improve energy affordability in British Columbia, accelerate innovation, strengthen the reliability and resilience of the electric grid, and achieve more inclusive economic growth.” “We continue to believe that we are missing out on some of the opportunities available to us.” Conifex said in a statement: