Bitcoin Miners In Grant County, Washington To Use Hydropower Despite Paying Higher Electricity Costs

When we hear bitcoin, we automatically associate with high energy consumption. While many projects have since formed to resolve the giant’s several flaws, Bitcoin is still preferred as it is the original digital asset and is considered the safest bet. According to a recent report shared by Geek Wire, Grant County has voted in favor of increased electricity rates for those mining bitcoins.

Grant County is known for its established hydropower facility in all of the U.S, hence this news was definitely expected. As per the new rate dubbed, “evolving industry”, firms that fall into this category will be provided with an additional two megawatts of power up to 7.9 cents per kilowatt hour for three years.

The increased rate is to protect the hydropower facility from any potential risk and is considered reasonable given the amount of power mining activities require. As quoted from the press release, this increase will also help “to subsidize sustainable below-cost rates for residential, irrigation and small and medium-sized business customers.”

Further emphasis on the risks was placed and it was revealed that industries categorized as “evolving industry” present three types of risks, which include regulatory, business and concentration. Regulatory and business risk, as they clearly indicate is the potential suspension in activity that might arise. Concentration risk takes into consideration the amount of electricity used and over some time frame.

According to Commissioner Larry Schaapman, he doesn’t “view miners as villains,” adding that miners are welcomed at “the data centers, but you can only do one thing – mine bitcoin.”

To read the entire press release, go to:

Get Free Email Updates!

*Action* Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

I will never give away, trade or sell your email address. You can unsubscribe at any time.

Bitcoin Exchange Guide News Team
B.E.G. Editorial Team is a gracious group of giving cryptocurrency advocates and blockchain believers who want to ensure we do our part in spreading digital currency awareness and adoption. We are a team of over forty individuals all working as a collective whole to produce around the clock daily news, reviews and insights regarding all major coin updates, token announcements and new releases. Make sure to read our editorial policies and follow us on Twitter, Join us in Telegram. Stay tuned. #bitcoin

[Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

[Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer


  1. The new rates will allow the huge operations that are the primary CAUSE of the issues to continue to be profitable (3 cents to about 4.5 cents overall, 50% jump) but will DESTROY smaller operations that are already paying higher rates (4.7 cents to about 13 all up, 150% jump).
    Grant County PUD has shown it has NO BLOODY CLUE about the issue with their current “rate change” phase-in over the next 2 years, and is going to drive many existing operations and miners out of business.


Please enter your comment!
Please enter your name here


Live Bitcoin Price & Latest BTC Charts

Today's Latest Crypto News

Bitcoin Will Emerge Stronger Out of the Ongoing Crisis: Congressman Tom Emmer

It is the fact that no one has centralized control over Bitcoin that makes it stand out in comparison to fiat currencies that are...

Coca-Cola to Utilize Baseline Protocol For Supply Chain Tracking with Exposure to DeFi

Coke One North America (CONA) has partnered with Provide and Unibright to streamline the supply chain of the largest coca-cola bottlers in the region...

USD-Pegged Cryptos & BTC Continue to Rise in Contradiction to the Falling US Dollar

The US dollar is not having a good start in the second half of 2020. The dollar index, which measures the greenback against a basket...

Coinbase Wallet Integrates Unstoppable Domains; Send Payments Via .Crypto Addresses

Coinbase Wallet, a service rendered by US based Coinbase crypto exchange is extending its support for Unstoppable Domains according to an announcement made by...

Mad Rush to BTC Coming Soon as Barstool Sports' Dave Portnoy Declares ‘I Want to Buy All the Bitcoins'

Dave Portnoy, the founder of Barstool Sports, has now turned his attention to Bitcoin as he said, "I want to buy all the bitcoins." Portnoy...

BitcoinExchangeGuide is a hyper-active daily crypto news portal with care in cultivating the cryptocurrency culture with community contributors who help rewrite the bold future of blockchain finance. Subscribe on Google News, see the mission, authors, editorial links policy, investment disclaimer, privacy policy. Got News? Contact us, we are human too. Note: nothing here is financial advice, do your own research thoroughly.

Start Using Crypto Today