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In the Canadian province of British Columbia, the debate over how profitable cryptocurrency mining is for the region has ended. The authorities finally lifted the temporary moratorium, which had been in effect since the end of 2022, and imposed an indefinite ban. The government has decided to stop connecting new mining farms to the power grid of the state-owned BC Hydro company.

In an official statement, representatives of the provincial administration explained that mining cryptocurrencies consumes too much energy and does not bring significant economic benefits to the region. The industry does not create many jobs and does not bring much profit to the budget, therefore its development is undesirable in conditions of limited energy resources.

Starting in 2026, a new regulatory system will be introduced, the key point of which will be the distribution of limited electricity quotas through a competition. The total available capacity will be limited to 100 MW, and the focus will primarily be on projects that clearly bring economic benefits to the province.

It is important to note that the ban will not affect mining companies using alternative energy sources. Companies will be able to use generation based on fossil fuels or liquefied natural gas, but the cost of such energy will be determined by market prices, without any benefits.

The decision of the Government of British Columbia reflects the global trend of reviewing the economic justification of mining cryptocurrencies. Regions where energy resources are limited are increasingly favoring industries with proven economic returns, which can seriously affect the future development of the digital asset industry worldwide.