Friday, March 1, 2024

Black Hills Energy Signs Deal Under New Blockchain Tariff

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Black Hills Energy company signed a new deal to provide power to a crypto mining facility under the new Blockchain Tariff in Wyoming so let’s read more today in our latest blockchain news.

Looking to entire BTC miners in the region, Black Hills energy annoucned that it signed a new deal with a crypto mining facility in Wyoming that will use the Blockchain Interruptible Service Tariff. The company said that this facility will be one of the biggest BTC mining operations in the region and will be operational to purcahse energy by the end of the year. The CEO Linn Evans added:

“We are excited to serve this new type of customer and to explore the benefits we can provide to other flexible load customers over the longer term.”

The company said that attracting blockchain companies with some high energy needs will provide the people in Wyoming with a few financial benefits like sales taxes, property, and long-term employment. Black Hills Energy is a subsidiary of the Cheyenne Light, Fuel, and Power Company and the company serves up to 1 million customers in Colorado, Iowa, Arkansas, Kansas, Montana, South Dakota, Nebraska, and Wyoming. The energy supplier proposed the Blockchain Tariff back in 2018 to the Wyoming Public Service Commission and said the state’s existing tariffs are not enough to attract the blockchain businesses while still providing a safe and reliable service for retail customers.

The tariff was approved in June 2019 and attracted new industries which have high energy demands over limited durations like blockchain companies. The vice president of the company Shirley Welte added:

“By providing a blockchain interruptible service option, we are able to meet the high energy demands of the blockchain industry without adding costs to our existing retail customers.”

Wyoming Lawmakers, stablecoin, state

According to the agreement, Black Hills Energy will deliver up to 45 megawatts of electric service with an option to expand to up 75 megawatts in the next five years. BTC mining has always been a hot debate due to the amount of electricity needed to support the network. The high energy use limits the profitability of mining and impacts the environment. If the network was a nation, it would rank in the 34th place in annual electricity use.

The Environemntal concerns about BTC mining caused states like New York to consider banning the practice while some organizations like Wikipedia and Mozzila stopped accepting BTC donations due to environmental impact.

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