Canadian Province Bans Crypto Mining Amid Unprecedented Electricity Demand

Core Viewpoint - The government of British Columbia has announced a permanent ban on new cryptocurrency mining connections to its electricity grid, effectively making the province a non-viable location for new grid-connected mining facilities and limiting expansion for existing miners [1][2]. Group 1: Legislative Changes - British Columbia is transitioning its temporary restriction on new cryptocurrency mining connections into a permanent ban, closing the door on industrial-scale crypto mining expansion [2]. - This legislation positions British Columbia as one of the first jurisdictions in North America to explicitly exclude the cryptocurrency sector from accessing its publicly owned clean-energy supply [2][3]. Group 2: Electricity Allocation Framework - The ban is part of a broader Electricity Allocation Framework aimed at addressing unprecedented electricity demand and ensuring that clean energy is directed towards projects that maximize economic benefits for the province [3]. - Traditional mining operations will still have access to the power grid, indicating that the ban specifically targets cryptocurrency mining [3]. Group 3: Industry Impact - The new regulations will force cryptocurrency miners to seek alternatives for their operations, as expansion in British Columbia will no longer be feasible [5]. - The most attractive Canadian provinces for crypto miners, known for their abundant and cheap hydroelectric power, are becoming increasingly restrictive regarding new connections [5].