BC Hydro censored load statistics about crypto mining, coal mining and chemicals from a November 2022 briefing note.
BC Hydro is concealing statistics about electricity use by cryptocurrency miners during the first half of the fiscal year.
Crypto mining requires quantities of high-powered computers to constantly run and be cooled around the clock. So much so, that cabinet ordered the BC Utilities Commission last December to place an 18-month moratorium on crypto mining connection requests. Richard McCandless, a retired assistant deputy minister who analyzes the performance of BC Hydro and the Insurance Corp of British Columbia, said China’s May 2021 ban on crypto mining had a major ripple effect on those seeking cheap and reliable power.
“Crypto is up so dramatically, they didn't want to show that,” McCandless said. “Maybe they didn't want to be seen as being asleep at the switch.” A September 2022 report to the White House titled “Crypto-Assets in the United States” said increased electricity demand from crypto-asset mining can lead to rate increases.
“A cooler spring and warmer summer supported increased loads. However, warmer daytime temperatures in September impacted heating more than cooling,” said the briefing note.
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