{"id":147523,"date":"2023-09-02T00:39:20","date_gmt":"2023-09-01T19:09:20","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=147523"},"modified":"2023-09-02T00:39:20","modified_gmt":"2023-09-01T19:09:20","slug":"kentucky-regulator-denies-plan-for-subsidizing-crypto-mining-facility-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/kentucky-regulator-denies-plan-for-subsidizing-crypto-mining-facility-crypto-news\/","title":{"rendered":"Kentucky regulator denies plan for subsidizing crypto mining facility – Crypto News"},"content":{"rendered":"
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The Public Service Commission of the state of Kentucky has denied a proposed contract that would have allowed a mining firm to receive a discounted rate on electricity provided by the power company.<\/p>\n

In an Aug. 28 order, the commission denied<\/a> a contract between Ebon International and Kentucky Power Company which involved a $50-million investment in a crypto mining facility in the city of Louisa. According to the filing, Ebon planned to run a 100-megawatt (MW) mining operation until 2024, then increase the load to 250 MW. <\/p>\n

The details of the proposed contract, which were partially redacted, included Kentucky Power providing Ebon a discounted rate for service over 10 years. The commission announced in December 2022 that it planned to review<\/a> the deal between Ebon and Kentucky Power.<\/p>\n

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Wasteful and exploitative #Bitcoin<\/a> mining companies across the U.S. want you to pay higher utility prices for the privilege of having your community polluted by Bitcoin\u2019s enormous energy consumption.<\/p>\n

We’re glad to see Kentucky regulators pushing back.https:\/\/t.co\/rtDroKOBhP<\/a><\/p>\n

\u2014 Greenpeace USA (@greenpeaceusa) August 31, 2023<\/a><\/p><\/blockquote>\n

Environmental groups Earthjustice and Greenpeace lauded<\/a> the commission\u2019s decision as a victory for average energy consumers in Kentucky. Joshua Archer, the Bitcoin Campaign Lead for Greenpeace USA, claimed<\/a> incentivizing crypto mining firms to set up shop in the state would have burdened taxpayers and contributed to climate change.<\/p>\n

Related: <\/em><\/strong>Cambridge Bitcoin Electricity Consumption Index updated to reflect hardware distribution and hash rate increases<\/em><\/strong><\/a><\/p>\n

The state of Kentucky is one of the major Bitcoin (BTC<\/a>) mining hubs in the United States alongside Texas, Georgia, and New York. Environmental organizations in these areas have pushed for restrictions and bans on crypto mining, resulting in New York signing a Proof-of-Work mining moratorium<\/a> into law in November 2022 and a bill removing incentives for miners<\/a> making it through the Texas Senate in April.<\/p>\n

Magazine: <\/em><\/strong>Bitcoin miner gets life in prison, China offers bounties for crypto firms: Asia Express<\/em><\/strong><\/a><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

The Public Service Commission of the state of Kentucky has denied a proposed contract that would have allowed a mining firm to receive a discounted rate on electricity provided by the power company. In an Aug. 28 order, the commission denied a contract between Ebon International and Kentucky Power Company which involved a $50-million investment […]<\/p>\n","protected":false},"author":2,"featured_media":147524,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[235,203,210,234,231,232,237,238,236,233],"class_list":["post-147523","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blockchain","tag-bitcoin","tag-crypto-currency","tag-elon-musk","tag-ethereum","tag-hyperledger","tag-ibm","tag-mining","tag-nodes","tag-spacex","tag-tesla"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/147523","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=147523"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/147523\/revisions"}],"predecessor-version":[{"id":147526,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/147523\/revisions\/147526"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/147524"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=147523"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=147523"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=147523"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}