New Brunswick's N.B. Power Denies Energy Access to Crypto Miners

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Mon, 25 Sep 2023, 05:38 PM
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New Brunswick's N.B. Power Denies Energy Access to Crypto Miners

Concerns over the additional energy demand from crypto mining prompt the power company to deny applications and the provincial government to endorse a moratorium.

Power lines near the Point Lepreau (New Brunswick, Canada) nuclear generating station. Wikimedia/Number Six

Wed, 03 May 2023, 03:57 am UTC

New Brunswick's main power company, N.B. Power, has denied energy applications from crypto miners and other large-scale users due to concerns over the energy supply, according to the Canadian Broadcasting Corporation (CBC).

N.B. Power has raised concerns about the "additional load demand" caused by crypto mining, warning that it could put "significant pressure" on the energy supply.

Although it is unclear when the moratorium on energy access for crypto miners began, the provincial government of New Brunswick endorsed the moratorium in March 2022, and the CBC's latest report indicates that the policy remains in place.

The cabinet order that authorized the moratorium included concerns from N.B. Power, and the provincial government ordered a review of the crypto sector and its impact on the energy supply.

While the policy seemingly went unnoticed until the CBC's latest coverage, the moratorium was introduced shortly after Taal Distributed Information Technologies expressed its intention to begin operating in New Brunswick. In addition, another firm, Hive Blockchain Technologies, already operates in the province.

Other Canadian provinces, such as British Columbia, Manitoba, and Quebec, have also imposed similar moratoriums. In the United States, North Carolina and New York have also imposed restrictions on crypto mining. However, it remains uncertain if these policies will remain in place.

Furthermore, New Brunswick's government had ordered a review of the crypto sector and its impact on the energy supply, which remains private. The review was intended to ensure that restrictions do not continue to affect non-crypto companies.

Title: New Brunswick's Power Company Denies Energy Applications from Crypto Miners

Sub-title: N.B. Power has concerns about the additional load demand caused by crypto mining and warns it could put significant pressure on the energy supply.

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