US County of Missoula Might Require Crypto Miners To Invest In Renewable Energy Soon

According to a report by the official website of Missoula County, Montana, a state in the United States, the county commissioners have reportedly discussed ways to implement standards in how cryptocurrency miners operate, how they use energy and how that affects the environment and the life and health of the general populace in that area.

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Published on 14th March, 2019, the report consists of two drafts. These are called the “Cryptocurrency Mining Resolution” and the “Cryptocurrency Mining Zoning Overlay District Regulations”.

On April 14, a month from the publication of the said report, a public hearing will be held by the county commissioners with regard to both of these draft regulations.

The second draft concerns itself with how mining can have an impact in generating electronic waste and triggering global warming. It:

“establishes locations where cryptocurrency mining operations may be sited in Missoula County and conditions that must be met in order to protect the public health, safety, morals, and general welfare of county residents.”

The draft regulation also lays down a certain set of requirements for those looking to mine cryptocurrencies in the area.

One of these criteria suggests that these mining operations are to be carried out only in districts designated for light and heavy industrial works. The mining operators must also undergo a review as a conditional use.

One of the factors their operations will be dependent on is the verification of the fact that all electronic waste they generate will be processed by a recycling firm having a DEQ license.

To balance out the damage meted out to the environment, these crypto mining operators will also be required to produce or buy an appropriate quantity of renewable energy that accounts for the entirety of the electricity they normally consume for mining purposes. As the draft details:

“These facilities shall be required to develop or purchase sufficient new renewable energy to offset 100 percent of the electricity consumed by the cryptocurrency mining operation. To meet this condition, the cryptocurrency mining operation must be able to establish that their actions will introduce new renewable energy onto the electrical grid beyond what would have been developed otherwise.”

The draft regulations, when passed and put into operation, will not apply to mining facilities that existed beforehand.

As long as they don’t violate any other legal provisions, they will be allowed to conduct their operations. However, if they wish to expand or shift to a new area, they will be required to adhere to the new norms.