The Public Service Commission of the state of Kentucky has denied a proposed contract that would have allowed a mining firm to receive a discounted rate on electricity provided by the power company.
In an Aug. 28 order, the commission denied a contract between Ebon International and the Kentucky Power Company that involved a $50 million investment in a crypto mining facility in the city of Louisa. According to the filing, Ebon planned to run a 100-megawatt (MW) mining operation until 2024, then increase the load to 250 MW.
The details of the proposed contract, which were partially redacted, included Kentucky Power providing Ebon a discounted rate for service over 10 years. The commission announced in December 2022 that it planned to review the deal between Ebon and Kentucky Power.
Wasteful and exploitative #Bitcoin mining companies across the U.S. want you to pay higher utility prices for the privilege of having your community polluted by Bitcoin’s enormous energy consumption.
Environmental groups Earthjustice and Greenpeace lauded the commission’s decision as a victory for average energy consumers in Kentucky. Joshua Archer, the Bitcoin campaign lead for Greenpeace USA, claimed incentivizing crypto mining firms to set up shop in the state would have burdened taxpayers and contributed to climate change.
The state of Kentucky is one of the major Bitcoin (BTC) mining hubs in the United States, alongside Texas, Georgia and New York. Environmental organizations in these areas have pushed for restrictions and bans on crypto mining, resulting in New York signing a proof-of-work mining moratorium into law in November 2022 and a bill removing incentives for miners making it through the Texas Senate in April.
The UK has re-established diplomatic ties with Syria, David Lammy has said, as he made the first visit to the country by a British minister for 14 years.
The foreign secretary visited Damascus and met with interim president Ahmed al Sharaa, also the leader of the rebel group Hayat Tahrir al-Sham (HTS), and foreign minister Asaad al Shaibani.
In a statement, Mr Lammy said a “stable Syria is in the UK’s interests” and added: “I’ve seen first-hand the remarkable progress Syrians have made in rebuilding their lives and their country.
“After over a decade of conflict, there is renewed hope for the Syrian people.
“The UK is re-establishing diplomatic relations because it is in our interests to support the new government to deliver their commitment to build a stable, more secure and prosperous future for all Syrians.”
Image: Foreign Secretary David Lammy with Syria’s interim president Ahmed al Sharaa in Damascus. Pic: X / @DavidLammy
The Foreign, Commonwealth and Development Office has also announced a £94.5m support package for urgent humanitarian aid and to support the country’s long-term recovery, after a number of British sanctions against the country were lifted in April.
While HTS is still classified as a proscribed terror group, Sir Keir Starmer said last year that it could be removed from the list.
The Syrian president’s office also said on Saturday that the president and Mr Lammy discussed co-operation, as well as the latest developments in the Middle East.
Since Assad fled Syria in December, a transitional government headed by Mr al Sharaa was announced in March and a number of western countries have restored ties.
In May, US President Donald Trump said the United States would lift long-standing sanctions on Syria and normalise relations during a speech at the US-Saudi investment conference.
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From May: Trump says US will end sanctions for Syria
He said he wanted to give the country “a chance at peace” and added: “There is a new government that will hopefully succeed.
“I say good luck, Syria. Show us something special.”
Secret Service quietly amasses one of the world’s largest crypto cold wallets with $400 million seized, exposing scams through blockchain sleuthing and VPN missteps.