New Brunswick’s main energy company began declining energy applications from cryptominers and other large-scale users in 2022, the CBC said on May 1.
The cabinet decision approving the moratorium included concerns from the province’s main energy company. NB Power expressed concern about “additional load demand” and warned that crypto mining could place “significant pressure” on energy supplies.
It’s unclear exactly when the moratorium on cryptominers’ access to energy began, as the policy seemingly went unnoticed until the latest CBC coverage.
However, the New Brunswick Provincial Government approved the moratorium in March 2022, and the CBC’s latest report indicates the policy remains in effect.
The New Brunswick government also commissioned a review of the crypto sector and its impact on energy supply. That order remains private, but was scheduled for December 2022 and was designed to ensure that restrictions continue to have no impact on non-crypto companies.
The moratorium was introduced shortly after a crypto mining company, Taal Distributed Information Technologies, declared its intention to operate in New Brunswick. Another company, Hive Blockchain Technologies, is already operating in the province.
Other Canadian provinces, including British Columbia, Manitoba and Quebec, have instituted similar moratoria. In the US, North Carolina and New York have imposed restrictions. This policy may or may not remain in effect.
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