A temporary moratorium on cryptocurrency mining projects in British Columbia has become a permanent fixture of the province as the government addresses concerns over “unprecedented” demands for energy.
Rendering the ban on crypto mining, imposed in 2022 and extended in 2024, permanent is part of “a bold set of actions” from the government designed to “keep our grid reliable”—which perhaps comes off as strange language for a region claiming to be an “energy superpower.”
“B.C. will be the economic engine that drives a more independent Canadian economy,” suggests Premier David Eby, pointing to “nation-building projects” such as the forthcoming North Coast Transmission Line.
The North Coast Transmission Line “will strengthen Canada’s position as a leading global supplier of critical minerals and metals and unlock more than $45 billion in near-term economic activity for British Columbians and all Canadians,” according to Michael Goehring, chief executive officer of the Mining Association of British Columbia.
Many are concerned, however, about the purported resilience of BC’s energy grid as the government looks to restrict usage levels.
Adrian Dix, Minister of Energy and Climate Solutions, says the Province’s “new allocation framework will prioritize vital growth in sectors like mining, natural gas, and lowest-emission LNG, while ensuring our clean energy is directed to projects that deliver the greatest benefit to British Columbians.”
And this includes the aforementioned ban on new crypto mining projects, as well as energy limits on existing ones.
The government says it is “putting limits on the power available for data centres and AI” while permanently banning new BC Hydro connections to the electricity grid for cryptocurrency mining allegedly in order “to preserve the province’s electricity supply and avoid the overburdening of the electricity grid.”
“We’re seeing unprecedented demand from traditional and emerging industries,” laments Charlotte Mitha, who serves BC Hydro as chief executive officer.
“The Province’s strategy empowers BC Hydro to manage this growth responsibly, keeping our grid reliable and our energy future clean and affordable,” she stated.
We must point out the lack of consistency in fretting over energy capacity while flatly rejecting nuclear even as other Canadian provinces eagerly adopt the clean technology.