British Columbia Imposes 18-Month Moratorium on New Crypto Mining Operations

This is the third Canadian province to limit the industry's growth as it looks to preserve capacity for communities.

AccessTimeIconDec 22, 2022 at 11:29 a.m. UTC
Updated Dec 22, 2022 at 4:38 p.m. UTC

British Columbia became the third Canadian province to impose restrictions on crypto mining, saying it will not approve new connections to its power grid for 18 months.

In recent weeks, utilities in Quebec and Manitoba imposed similar restrictions on the industry, citing the high demand for power.

The province wants to preserve electricity for "electric vehicles and heat pumps, and for businesses and industries that are undertaking electrification projects that reduce carbon emissions and generate jobs and economic opportunities," Josie Osborne, British Columbia's minister of energy, mines and low carbon innovation, said in a Wednesday post on the provincial government's website.

Currently, 21 projects are requesting a total of 1,403 megawatts (MW) in the province, equivalent to the energy needed to power approximately 570,000 homes, or 2.1 million electric vehicles, the post said.

CORRECTION (Dec. 22 16:35 UTC): Removes from the picture caption the reference to Vancouver being the capital of British Columbia. (Victoria is the capital.)


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Eliza Gkritsi

Eliza Gkritsi was CoinDesk's AI/crypto reporter.

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