Bitcoin miners in Chelan County, Washington will now have to shell out 30% more on electricity bills. The local politicians have decided to increase the tariff rates of electricity consumption, especially for bitcoin miners. The decision has been taken not because the government is against the bitcoin mine farms but because bitcoin mining in the specified region is consuming more electricity than ever before.
According to the research, cryptocurrency mining like bitcoin mining consumes around 204.5 TW/h per year. Such an amount of electricity consumed by America is comparable to small developing countries like Thailand for the same time frame.
The Commissioner of the County Public Utility District (PUD) has approved the rates and will be enforced by end of this week in Chelan County, Washington. The special tariff rates known as Rate 36 will be applied to ‘high-density bitcoin miners’ in the region.
According to the Commissioner of PUD, it has taken several steps to eradicate illegal cryptocurrency mining activity. Due to the increased amount of electricity consumption, several locations have witnessed potential damage to electrical equipment. As a result, the PUD of Chelan County has to bear the hefty cost of fixing the equipment. Also, the PUD has to carry out several power outages to prevent any further losses.
As long as the environment is concerned, bitcoin miners and miners of other cryptocurrencies have been using renewable electricity to meet their equipment’s demand since 2021. The number of crypto miners has increased largely as a consequence of the ban in China. The American territory is taking all the toll now and it’s high time to take some action in terms of prices to address the common problem.