Washington Utilities Firm Stops Accepting Applications for Crypto Businesses

A utilities firm based in rural Washington has ceased accepting applications for electricity from crypto mining and identical blockchain processes.

The Seattle Times first reported this on July 30.

The Franklin Public Utility District commissioners (PUD) have ratified a moratorium that would allow time for staff to take a look into the impact of cryptocurrency mining on the electrical system before accepting more applications. The PUD staff would also be looking into an updated rate sheet.

Drawn to the said locale by cheap electricity, miners are now falling under the purview of local regulators and power utilities companies, who are worried about long term power supply for both residents and other businesses.

A few months ago, another rural Washington public utility, Chelan PUD, had called on staff to implement a moratorium on crypto mining with the detection of unsanctioned mining activities, becoming wary with the state and safety of electricity systems. The enforcement measures comprised of fines and penalties, disconnecting service, “reporting unauthorized loads to law enforcement as power theft”, and “firing officials to protect public safety.”

New York state regulators have given the green light on a new electricity rate scheme for cryptocurrency miners that would let them negotiate contracts. The ruling gives 36 municipal power authorities authority to charge crypto miners a little bit more than average consumers. The Massena municipal utility would take a close look into contracts and establish prices on a case-by-case basis for crypto miners who are keen on doing business there, which reportedly would safeguard other utility customers from elevated rates.

Some local officials have been warmer in welcoming crypto mining operations. In April, Port of Walla Walla, Washington commissioners collectively settled on a land lease and purchase option for 10 acres to be utilized for a cryptocurrency mining project by Bitmain subsidiary Ant Creek LLC.