BTC Miners In Washington Face An Increase Of 30% In Electricity Rates

BTC mining operations need more electricity than other customers, so PUD Commissioners decided to charge the bill with the newly increased rates from BTC miners in Chelan County and Washington. 560 KPQ reported recently that electricity rates have increased by nearly 29 percent.

This step has really shifted the mining firms from a typical charging plan of ‘high density’ to the newly generated plan famous as Rate 36; particularly, this plan is for crypto miners. PUD Commissioner Garry Arseneault said that what they did as commission and utility was the market-leading, to generate new rates for this kind of demand.

The miners use a large quantity of electricity, so it is technically fair to change the charges, and they will have to pay higher prices. Additionally, it’s a reality that miners need a large amount of electricity to perform mining operations, and existing mining firms are already surfing nearly 25 percent of the available power, so Douglas County is not in favor of new companies and banned new companies in the County.

The officials decided to impose the new rates in Jan., but later on, they postponed it until the Jun. of the current year. However, members voted in favor of the bill on Monday, and the bill was approved by Commission. New rates already came into effect on 1 Jun.

The Commission has proposed three registered mining platforms to those firms to sign transition deals, which are not in position to face additional rates as per the new schedule because these firms have already invested a heavy amount in bringing mining facilities. According to contract, the rates will increase gradually. Commissioner Ann Congdon said that transition is much needed and important for business. However, Commission has canceled the transition deals, but miner community is still criticizing.

Salcido Enterprises Chief Executive Officer Malachi Salcido told in an interview to native news agency that they will rearrange their three mining platforms because of high electricity rates in Chelan County. According to the new rules, in case Malachi transits his firms into data farms and starts processing data, the firms will pay lower prices. Malachi Salcido added that data processing also requires same amount of electricity the miners need.

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