Kentucky Investigating 2 Proposed Contracts That Would Give Discounted Electricity to Crypto Miners

Kentucky’s Public Service Commission (PSC) is opening formal proceedings to examine two proposed contracts that may give lowered electrical energy charges to new cryptocurrency mining operations within the state, in accordance to a press release from environmental group Earthjustice.

The motion was taken in response to feedback from Kentucky Attorney General Daniel Cameron and advocates such because the Kentucky Resources Council, with the priority being that discounted charges for the energy-intensive act of proof-of-work cryptocurrency mining could lead on to larger electrical payments for state residents.

One proposed contract is between Kentucky Power and Ebon International, LLC, and would give discounted electrical energy charges to the Ebon Facility, a 250 MW cryptocurrency mining operation in Louisa, Kentucky. The second investigation is into Bitiki-KY, a 13 MW cryptocurrency mining facility in Waverly, KY. Bitki-KY already has a $250,000 tax credit score from the state of Kentucky, in accordance to the discharge.

Kentucky is house to 20% of the U.S.’ collective computing energy for proof-of-work crypto mining and produces extra carbon dioxide air pollution from crypto mining than some other state, in accordance to Earthjustice.

Kentucky’s Public Service Commission didn’t instantly reply to a request for remark.

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