The Manitoba government has suspended the connection of new cryptocurrency mining facilities to the province’s power grid due to the inability to meet the needs of growing demand.
According to the government of Manitoba, the temporary measure is for 18 months and will not affect the 37 currently active crypto assets mining facilities. The measure aims to stop a growing number of power requests for new facilities, which together make up a significant portion of the province’s power supply.
Justifying the decision, Manitoba Finance Minister Cameron Friesen said that thanks to cheap electricity, Manitoba has become a magnet for users who require large amounts of electricity to mine cryptocurrencies.
Friesen said that 17 new operators have applied for a total of 370 MW, more than half the capacity of the Keyaska hydropower plant, which came online in 2022. The Minister of Finance stressed that the government is concerned about the low economic role of mining companies, which, with huge energy consumption, do not create many jobs.
In August, the government of Manitoba allocated an additional 100,000 Canadian dollars, which went to train police officers in tracking cryptocurrency transactions.
Source: Bits
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