Going forward I see this as a major concern for crypto mining. Power is going to be increasingly in demand from the humongous data centers needed for AI, and they will get priority over mining.
And here’s a bit of trivia, any question you ask your devices, google, Alexa etc consumes one 500ml bottle of water. These AI data centers use a lot of power and a lot of water. And we’re just getting started.
coinfeeds-bot on
tldr; Newfoundland and Labrador has restricted power access to cryptocurrency miners due to their high energy demands. Blockchain Labrador Corp.’s request for 20 megawatts was denied, as the province exempted its utility from selling power to new crypto projects. Similar measures are being implemented across Canada, with provinces like British Columbia and Manitoba imposing bans or regulations. Experts suggest these restrictions reflect structural issues in electricity pricing and prioritize other industries over energy-intensive crypto mining.
*This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
DrSpeckles on
One more nail in the coffin.
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Going forward I see this as a major concern for crypto mining. Power is going to be increasingly in demand from the humongous data centers needed for AI, and they will get priority over mining.
And here’s a bit of trivia, any question you ask your devices, google, Alexa etc consumes one 500ml bottle of water. These AI data centers use a lot of power and a lot of water. And we’re just getting started.
tldr; Newfoundland and Labrador has restricted power access to cryptocurrency miners due to their high energy demands. Blockchain Labrador Corp.’s request for 20 megawatts was denied, as the province exempted its utility from selling power to new crypto projects. Similar measures are being implemented across Canada, with provinces like British Columbia and Manitoba imposing bans or regulations. Experts suggest these restrictions reflect structural issues in electricity pricing and prioritize other industries over energy-intensive crypto mining.
*This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
One more nail in the coffin.