US State of Kentucky to Investigate Two Proposed Contracts Offering Electricity Discounts for Crypto Mining Operations in the State

The U.S. state of Kentucky’s Public Service Commission (PSC) has launched a formal process that will investigate two proposed contracts to lower electricity rates for new cryptocurrency mining operations in the state. One of the proposed contracts, between Kentucky Power and Ebon International, would provide discounted electricity rates for the Ebon Facility, a 250 MW cryptocurrency mining operation in Louisa, Kentucky; Bitiki-KY, a 13 MW cryptocurrency mining facility in Kentucky, has received a $250,000 tax credit from the state of Kentucky. Foresight News notes that according to data from Earthjustice, Kentucky has 20% of the PoW encryption mining computing power in the United States, higher than any other state.