Author: Lori R. Luce
On the 21st of December, BC Hydro, an electric utility provider in the Canadian province of British Columbia, paused the new electricity connection for Bitcoin miners for around 18 months, a move to support the province’s climate action and economic goals. In a press release today, Josie Osborne, Minister of Energy, Mines, and Low Carbon Innovation, said that cryptocurrency mining consumes massive amounts of electricity to run and cool banks of high-powered computers 24/7/365 while making very few jobs in the local economy. According to the press release, this suspension would target cryptocurrency miners who have yet to connect to…
On the 23rd of December, Bullish, the Peter Thiel-backed crypto exchange, and SPAC, also known as Far Peak Acquisition Corporation, a special purpose acquisition company, both mutually agreed to call off their planned merger. In July last year, both of these companies, Bullish and Far Peak, agreed to a merger that would have enabled the crypto exchange would be publicly traded on the New York Stock Exchange, but after calling this deal off, their plan failed. SPAC, or Far Peak Acquisition Corporation, also known as a blank check company, is a company with no business operations. The company is formed…