Kentucky to scrutinize contracts offering cheaper electricity to miners
An Earthjustice lawyer said the hearings and discovery process would give Kentuckians a good idea what they would be paying for by subsidizing the facilities. The Kentucky Public Service Commission (PSC) has reportedly opened a formal investigation into two proposed contracts that would offer discounted electricity prices to new crypto-mining operations. According to a Dec. 5 statement from environmental law group Earthjustice, the government department would be looking to determine whether subsidizing crypto mining operations will raise electricity costs for Kentucky residents. The two Mining contract s under investigation include one between Kentucky Power and Ebon International LLC, which runs a 250-megawatt Mining facility in Louisa, as well as Mining company Bitki-KY, which operates a 13-megawatt facility in Waverly, Kentucky. The contract proposes to give discounted electricity rates to the Ebon Facility, while the Bitki-KY has already received a $250,000 tax credit from the sta...