🧵 1/4: A judge in British Columbia upholds B.C. Hydro's ban on crypto mining, ruling it reasonable and not unduly discriminatory. #crypto
🧵 1/4: A judge in British Columbia upholds B.C. Hydro's ban on crypto mining, ruling it reasonable and not unduly discriminatory. #crypto
🧵 2/4: Conifex Timber's challenge to the ban was rejected, as their proposed mining operation would consume 2.5 million megawatt-hours annually.
🧵 3/4: BC Hydro cited the high electricity consumption and limited job creation of crypto mining as reasons for the ban.
🧵 4/4: The ban aims to prevent a scenario where most electrical power is dedicated to one industry, resulting in increased costs for other customers.
🧵 Read more at: https://cryptonews.com/news/british-columbia-court-upholds-b-c-hydros-ban-on-crypto-mining.htm