Prince George’s Conifex loses an offer to stop the National Democratic Party to operate encrypted currency mines

The Court of Appeal BC rejected the Prince George Forest Products Challenge for the 2022 profession of BC NDP for the operation of the new cryptocurrency mines.

Conifex Timber Inc. In canceling the decision in the Supreme Court BC last year.

“The appeal is not a subject of discussion, because it addresses a controversy that can have practical effects on the requests of electrical service suspended in Conifex,” the court ruled. “With regard to the advantages, CONIFEX has not proven that (the matter in the Council) was outside the authority to establish the (Cabinet) organization.”

The March 3 decision, written by Judge Paul Riley and was approved by the judges Margot Fleming and Lori Ann Valon, came after a one -day hearing, November 25, which was also called BC Hydro as a summary.

The court said that the proposed CONIFEX projects will use nearly half of the expected energy out of the new dam, which is worth 16 billion dollars. Therefore, it was reasonable for the cabinet to conclude that it had the authority to stop the service to provide the service to the encrypted currency operations, “based on the cost of the service and economic concerns related to its distinctive electrical consumption characteristics.”

It was also unreasonable for the cabinet to issue an order to direct the BC (BCUC) facility committee to exercise its authority to reduce BC Hydro from its commitment to providing service to new or suspended mines in the encrypted currency, despite the requirements of BCUC to “hold a hearing before the independent exercise that legal strength.”

The Conofex was applied in April 2021 on BC Hydro for three MW of service, with the ability to expand to 25 MW, in Mackeenzie. Similar projects were also imagined in Kennedy Kreik, Wadi Salmon and Ashton Kreik.

Conifex later abandoned the Kennedy Kreik plan, but it submitted requests for Salemon Valley and Ashton Kreik in April 2022, and suggested that each site be operated to 150 MW. In June 2022, the system’s effective effect agreements that BC Hydro required completing the necessary reports by the end of April 2023 and then moved to the stage of studying the effect.

But BC Hydro was flooded with requests to cryptocurrency. The Crown Company is concerned that it will have to increase electricity rates for all customers and lose the ability to meet the future demand while achieving the goals imposed by the government to move away from fossil fuels.

Therefore, the Council of Ministers directed BCUC to stop new and 18 -month -old electrical service for coding. Four projects have been identified, including computer computing sites (HPC) in Salmon and Ashton Creek.

The Supreme Court BC listened to the seeing optimum in two days in October 2023 and rejected the case in February 2024. On the last day of the Spring Legislative Council session in May 2024, the government of the National Democratic Party was established by the law amending the energy laws that authorized the Council of Ministers to regulate the provision of electrical service to manufacture encryption.

By the end of June 2024, the endowment has passed for 18 months. However, on the same day, the Council of Ministers issued a cryptocurrency regulation that stated that BC Hydro should not provide a service to some encrypted currency projects, including the Conformation’s Salmon Valley and Ashton Creek sites, for another 18 months.

The decision of the Court of Appeal said that Confex “intends to get rid of” the proposed encryption mining to provide HPC services to customers in the industries of artificial intelligence and machine learning. Hydro advised this step last May, after the Supreme Court’s decision BC.

“The change in the final use does not affect the details of its inter -delivery requests for the SALMON Valley and Ashton Creek HPC sites, which should be allowed to move forward in the BC water bonding process without delaying more delay.”

Confex, publicly traded on TSX, has an office for companies in Vancouver, a regional office in Prince George and Al -Nasher and McKinsey power plant operations.