In a significant blow to Ebon International, a mining company eyeing Louisa, Kentucky, the state’s Public Service Commission has rejected a proposal for discounted electricity rates for their anticipated cryptocurrency mining facility.
Ebon International had intended to invest a substantial $50 million in the establishment of a 100-megawatt mining operation, with plans for expansion to 250 MW by 2024.
The commission’s decision has garnered support from prominent environmental organizations, including Earthjustice and Greenpeace USA. Joshua Archer, head of Greenpeace USA’s Bitcoin Campaign, praised the ruling, arguing that granting preferential incentives to crypto mining companies like Ebon International would unfairly burden regular energy consumers throughout the state.
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