A Blow To Crypto Miners Disputing Local Energy Rates
Law360 (April 10, 2020, 5:36 PM EDT) -- A Washington state federal court recently addressed claims relating to rates that cryptocurrency mining companies pay for electricity in Grant County, Washington. In Blocktree Properties LLC et al. v. Public Utility District No. 2, the U.S. District Court for the Eastern District of Washington rejected all of the miners' legal claims.
The dispute focused on the rate classification that the local municipal electric utility district applied to crypto miners, as explained below. Due to various risks, the miners were assigned to a newly created rate class, referred to as "evolving industries," resulting in a higher electricity rate for the miners. The miners were...
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