How Washington State Became a Battleground for Bitcoin Mining

[alyssa85]

http://www.coindesk.com/bitcoin-miners-public-utility-spar-over-electrical-costs/

"We feel like it's a bait and switch."

That's Michael Cao, CEO of bitcoin mining firm ZoomHash, one of a number of bitcoin miners currently involved in a months-long dispute over power costs with a public utility provider in Chelan County, Washington.

Cao isn't alone. Other bitcoin miners in the region say they were drawn by promises of cheap power, a circumstance that's now subject to possible change.

...A moratorium on high-density load customers, which includes bitcoin mining firms, has been in place since December 2014 and is set to expire in October, by which time the PUD intends to have a rate increase plan firmly in place.

The utility is currently weighing a plan to raise rates for customers that use more than 250 kilowatt-hours per square foot or more annually, a move that would include the power-hungry bitcoin mines in Chelan. This would mean a power cost of roughly five cents per kilowatt hour, or about double what they pay now.

[toptek]

http://www.coindesk.com/bitcoin-miners-public-utility-spar-over-electrical-costs/

"We feel like it's a bait and switch."

That's Michael Cao, CEO of bitcoin mining firm ZoomHash, one of a number of bitcoin miners currently involved in a months-long dispute over power costs with a public utility provider in Chelan County, Washington.

Cao isn't alone. Other bitcoin miners in the region say they were drawn by promises of cheap power, a circumstance that's now subject to possible change.

...A moratorium on high-density load customers, which includes bitcoin mining firms, has been in place since December 2014 and is set to expire in October, by which time the PUD intends to have a rate increase plan firmly in place.

The utility is currently weighing a plan to raise rates for customers that use more than 250 kilowatt-hours per square foot or more annually, a move that would include the power-hungry bitcoin mines in Chelan. This would mean a power cost of roughly five cents per kilowatt hour, or about double what they pay now.

I read that, don't feel bad it's every were B G and E hopes to make us pay for everything in Maryland and nothing out there packets they made last year for there investor alone 275 million in profits no loses according to what some fed agency reported and they want more,they sure as hell don't need it if they made that for there investor , how much did  BG and E make in profits above that, no one has saved but the power company's which have to much control,now they claim they need to recover cost for there smart meters, no one in this state asked for it or wanted, but a few and that was the ones that made millions from it or will .

 i feel they did it, they should eat it and use what they have. which is kind the same out there they don't want to give up a thing and will force stuff on you all, so they can get more, they really don't care about any thing like they claim, in the post form coin desk if you noticed when they were asked what's there cost is was it said ? . not really in any detail and never will be unless it's leaked some how .

[Zeke2345]

This seems to be a common issue with utilities all wanting to go to pay for use so they can ding high users.
Actually its showing up in all aspects of life,now that I think about it. Toll bridges vs. a flat yearly fee with car insurance,internet use,cell phone plans. Think if the moratorium is ending people should be able to walk away or find a competing option.

[toptek]

This seems to be a common issue with utilities all wanting to go to pay for use so they can ding high users.
Actually its showing up in all aspects of life,now that I think about it. Toll bridges vs. a flat yearly fee with car insurance,internet use,cell phone plans. Think if the moratorium is ending people should be able to walk away or find a competing option.

So true like the cable company's are breaking the law right out in the open hoping to resend the net freedom law from last year, it's a never ending wave of greed and fight for control for what ?. nothing in the end .

[unamis76]

Two options now: Either push through 5 cent/kW/h while investing in new, more efficient hardware or pick up profits and move location. Sad that it has come down to this, but electric companies saw a way to profit... Now miners just got to pressure them and end with their profiting plans.

[knowhow]

Well i believe is time to moove into some region that they can make a contract for the next 5 years,and sure those farmers has made a good return of their investment,as the company has made a huge and fat income from the energy they were offering to the miners,now they got greedy because 1 btc is worthing 400 dollars and it will go up ,soo they wanna now a part of the income of the miners ,well is what centralized companies and projects does,thats why bitcoin is getting bigger.

[SFR10]

In the ending part of the article, it's been mentioned that them saying, their neutral to the situation and are trying to go with a win-win situation, but IMO all they want, is a bigger profit on their part and never cared in the first place to be the reason for the miners to go out of business and have collateral damages due to a need for relocation and extra expenses of it.

[alyssa85]

Two options now: Either push through 5 cent/kW/h while investing in new, more efficient hardware or pick up profits and move location. Sad that it has come down to this, but electric companies saw a way to profit... Now miners just got to pressure them and end with their profiting plans.

Yes. Moving of course means that western involvement in mining becomes less and less over time...

[RealPhotoshoper]

http://www.coindesk.com/bitcoin-miners-public-utility-spar-over-electrical-costs/

"We feel like it's a bait and switch."

That's Michael Cao, CEO of bitcoin mining firm ZoomHash, one of a number of bitcoin miners currently involved in a months-long dispute over power costs with a public utility provider in Chelan County, Washington.

Cao isn't alone. Other bitcoin miners in the region say they were drawn by promises of cheap power, a circumstance that's now subject to possible change.

...A moratorium on high-density load customers, which includes bitcoin mining firms, has been in place since December 2014 and is set to expire in October, by which time the PUD intends to have a rate increase plan firmly in place.

The utility is currently weighing a plan to raise rates for customers that use more than 250 kilowatt-hours per square foot or more annually, a move that would include the power-hungry bitcoin mines in Chelan. This would mean a power cost of roughly five cents per kilowatt hour, or about double what they pay now.

Washington state is popular and important buildng on USA,so is there any other state on other countries who have battleground like washington?it will important for country to have Battleground for Bitcoin Mining.