Canada’s British Columbia Permanently Bans New Crypto Mining Projects to Prioritize Energy for High-Value Industries

British Columbia has solidified its moratorium on cryptocurrency mining into a long-term policy, barring new projects from connecting to the provincial grid. The decision, announced by BC Hydro, aims to conserve clean hydropower for industries deemed more economically beneficial, such as natural gas processing and hydrogen production.

The MOVE follows a two-year trial restriction initiated in 2022. Officials cite cryptocurrency mining's disproportionate energy consumption relative to its local job creation and revenue generation as the primary rationale. "We're safeguarding electricity for sectors that deliver tangible community benefits," stated the Energy Ministry, emphasizing grid stability amid growing demand.

Bloomberg reports the ban extends to AI data centers, reflecting broader prioritization of energy-intensive industries. British Columbia, a major hydropower exporter, seeks to balance its resource advantages with sustainable economic development—leaving crypto miners to seek jurisdictions with cheaper, less regulated power markets.