A cryptocurrency firm has lost a bid to force BC Hydro to provide the vast amounts of power needed for its operations, upholding the provincial government害羞草研究所檚 right to pause power connections for new crypto miners.

Conifex Timber Inc., a forestry firm that branched out into cryptocurrency mining, had gone to the B.C. Supreme Court to have the policy declared invalid.

But Justice Michael Tammen ruled Friday that the government害羞草研究所檚 move in December 2022 to pause new connections for cryptocurrency mining for 18 months was 害羞草研究所渞easonable害羞草研究所� and not 害羞草研究所渦nduly discriminatory.害羞草研究所�

BC Hydro CEO Christopher O害羞草研究所橰iley had told the court in an affidavit that the data centres proposed by Conifex would have consumed 2.5 million megawatt-hours of electricity each year.

That害羞草研究所檚 enough to power and heat more than 570,000 apartments, according to data on the power provider害羞草研究所檚 website.

Energy Minister Josie Osborne said when the policy was introduced that cryptocurrency mining consumes 害羞草研究所渕assive amounts of electricity害羞草研究所� by running high-powered computers around the clock, but adds 害羞草研究所渧ery few jobs害羞草研究所� to the local economy.

In a statement released Monday, the company said it害羞草研究所檚 害羞草研究所渄isappointed害羞草研究所� with the court害羞草研究所檚 ruling and is mulling an appeal.

害羞草研究所淐onifex continues to believe that the provincial government is missing out on several opportunities available to it to improve energy affordability, accelerate technological innovation, strengthen the reliability and resiliency of the power distribution grid in British Columbia, and achieve more inclusive economic growth,害羞草研究所� the statement said.

Before the provincial government paused new power connections for cryptocurrency miners, BC Hydro released a report outlining the 害羞草研究所渃onundrum害羞草研究所� they represent to the utility provider.

The report said power demand from cryptocurrency mining operations would challenge clean energy and electrification goals as adoption of things such as electric vehicles and heat pumps increase.

The report said bitcoin mining requires enough energy to power 害羞草研究所渁 small country,害羞草研究所� and moratoriums on crypto mining in China, Algeria and some U.S. states 害羞草研究所渃reated a significant increase in demand for power in B.C. by cryptocurrency mining operations.害羞草研究所�

The court ruling said connection requests over the last few years from cryptocurrency miners in B.C. 害羞草研究所渇ar exceeded害羞草研究所� BC Hydro害羞草研究所檚 projections.

It said the pause ordered by the government was in response to 害羞草研究所渢he very real prospect that devoting such a large proportion of the available electrical power supply to one industry would leave less energy for other uses which might result in increased costs to all other residential and industry customers in B.C.害羞草研究所�

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