Cryptocurrency

PUD Stops accepting Applications for Crypto Mining

PUD Stops accepting Applications for Crypto Mining

A customer-utility firm in rural Washington has stopped accepting applications for electricity from crypto mining and some other blockchain operations.

The Franklin Public Utility District Commissioners (PUD) have recently accepted a ban which will provide time to staff to investigate the influence of cryptocurrency mining on the electrical system before accepting applications. The utility staff will consider a new rate structure.

In rural Washington and New York, miners are more or less falling under the investigation of local regulators and power utilities for cheap electricity. These regulators are worried about the long-term power supply for residents and businesses.

In April 2018, one rural Washington public utility requested staff to enforce a ban on crypto mining with the disclosure of some illegal mining activities, becoming worried about the overall state and protection of electrical systems. The constraints measures include fines and penalties, disconnecting service, “reporting unauthorized loads to law enforcement as power theft”, and “firing officials to protect public safety.”

Previously this month, New York regulators certified a new electricity rate scheme for cryptocurrency miners that will allow them to negotiate agreements. The decision allows 36 municipal power authorities access to charge crypto miners more than other consumers. The Massena municipal utility will accept agreements and set prices on a case-to-case basis for crypto miners who are involved in managing operations there, this system will help to protect other utility consumers from increased rates.

Several local authorities are cordially accepting the crypto mining operations. Before few months, Port of Walla Walla, Washington commissioners instantly agreed on a land lease and purchase option for 10 acres which will be utilized for crypto mining operations by Bitmain subsidiary Ant Creek LLC. The main issue raised by the opponents about the project is the huge amount of electricity the firm will consume. The project falls under the port’s mission of job and tax base creation.

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