Local radio station KPQ reported the Chelan County Public Utility District has proposed a new electricity pricing structure for cryptocurrency miners meant to pass down the cost of all that juice they are using.
“Our upfront capital charges are intended to recover the accelerated cost of infrastructure investment in our system, mainly in our substations, which is kind of the main component of the distribution system,” explained Lindsey Mohns, who is Customer Utilities rate adviser. “So the upfront charges take into account the capacity that’s used by cryptocurrency miners.”
Miners, of course, aren’t happy and expressed that during a recent public hearing. Denton Meier, part owner of Silicon Orchard, a crypto-mining company, was quoted as warning that if rates go up, miners will pick up and take the money they generate elsewhere – say, Montana or Virginia.