Kentucky Denies Discounted Electricity Rates for Crypto Mining Facility, Environmental Victory
Summary:
The Kentucky Public Service Commission has rejected a contract that would have provided a mining firm with discounted electricity rates for a crypto mining facility. Environmental groups celebrate the decision as a victory for energy consumers and efforts to combat climate change. Kentucky is a significant Bitcoin mining hub in the US, alongside Texas, Georgia, and New York.
The Public Service Commission of Kentucky has rejected a proposed contract that would have given a mining company discounted electricity rates. The contract, between Ebon International and Kentucky Power Company, involved a multimillion-dollar investment in a crypto mining facility. The commission's decision was met with praise from environmental groups, who argued that the contract would have placed a burden on taxpayers and contributed to climate change. Kentucky is a prominent Bitcoin mining hub in the US, along with Texas, Georgia, and New York, where similar restrictions have been imposed on crypto mining activities.
Published At
9/1/2023 7:03:58 PM
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