Another county in the U.S. state of Washington has blocked new utility applications from cryptocurrency mining outfits due to concerns over spiking energy demands.
According to a local news source on Sunday, commissioners from the Franklin County Public Utility District (PUD) ordered the temporary moratorium to make time for a study on the effects of the growing density of cryptocurrency mining farms on electricity supply in the region.
Franklin PUD added that it also plans to propose a new rate structure for miners as a response to their high demands.
The decision marks Franklin as the latest county in the state to have restricted applications from cryptocurrency miners, which have been increasingly drawn to the low electricity costs in the area, as well as a relatively cooler weather – all of which helps miners maximize their return on investment.
Early this year, both Chelan and Mason counties also issued similar freezes on new cryptocurrency mining operations.
In April, Chelan also cut off electricity to three “unauthorized” farms that local officials said posed a risk to public safety.
Elsewhere, New York State officials have already cleared the way for local utilities to charge higher rates for cryptocurrency miners from March, following debates on how the operations can bring value to local communities.
Washington power cables via Shutterstock
The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.
Let’s block ads! (Why?)