Kentucky’s Public Service Commission (PSC) is opening formal proceedings to investigate two proposed contracts that would give reduced electricity rates to new cryptocurrency mining operations in the state, according to a press release from environmental group Earthjustice.
The action was taken in response to comments from Kentucky Attorney General Daniel Cameron and advocates such as the Kentucky Resources Council, with the concern being that discounted rates for the energy-intensive act of proof-of-work cryptocurrency mining could lead to higher electric bills for state residents.
(by Nelson Wang)
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