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The Public Service Fee of the state of Kentucky has denied a proposed contract that will have allowed a mining agency to obtain a reduced price on electrical energy offered by the facility firm.
In an Aug. 28 order, the fee denied a contract between Ebon Worldwide and the Kentucky Energy Firm that concerned a $50 million funding in a crypto mining facility within the metropolis of Louisa. In accordance with the submitting, Ebon deliberate to run a 100-megawatt (MW) mining operation till 2024, then improve the load to 250 MW.
The main points of the proposed contract, which have been partially redacted, included Kentucky Energy offering Ebon a reduced price for service over 10 years. The fee introduced in December 2022 that it planned to review the deal between Ebon and Kentucky Energy.
Wasteful and exploitative #Bitcoin mining firms throughout the U.S. need you to pay larger utility costs for the privilege of getting your neighborhood polluted by Bitcoin’s huge vitality consumption.
We’re glad to see Kentucky regulators pushing again.https://t.co/rtDroKOBhP
— Greenpeace USA (@greenpeaceusa) August 31, 2023
Environmental teams Earthjustice and Greenpeace lauded the fee’s determination as a victory for common vitality customers in Kentucky. Joshua Archer, the Bitcoin marketing campaign lead for Greenpeace USA, claimed incentivizing crypto mining corporations to arrange store within the state would have burdened taxpayers and contributed to local weather change.
The state of Kentucky is likely one of the main Bitcoin (BTC) mining hubs in the US, alongside Texas, Georgia and New York. Environmental organizations in these areas have pushed for restrictions and bans on crypto mining, leading to New York signing a proof-of-work mining moratorium into regulation in November 2022 and a invoice removing incentives for miners making it by means of the Texas Senate in April.
Journal: Bitcoin miner gets life in prison, China offers bounties for crypto firms: Asia Express
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