Security Beefed Up By Washington Utility Ahead Of Cryptocurrency Moratorium

Security Beefed Up By Washington Utility Ahead Of Cryptocurrency Moratorium

Chelan County Power Utility District of North Central Washington, one of a well-known utility service providers operating in the US has increased security in readiness of a possible backlash that might occur anytime soon. The backlash could be as a result of a scheduled moratorium on digital coin miners by the said firm.

The Backlash Could Come from Disconnected Miners

Even though the company has undertaken such measures, they haven’t yet experienced any incident that might need police assistance. Among the advanced security measures that the company has enacted includes installation of security cameras and bulletproof panels at its main offices.

The heightened security precautions undertaken by the firm have been attributed to possible retaliation concerns from two major virtual currency groups. These two groups are applicants for top-rated virtual currency services who were denied access as well as unauthorized miners whose power was disconnected. An emergency moratorium was launched in March 2018 by this company to target high-density load hookups that would allow the staff to come up with a plan for dealing with electricity demand from miners of virtual currency.

Illegal Mining Still Thrives

According to reliable information issued by Chelan County PUD, there were only 22 authorized high-density load customers when the moratorium was called back in March 2018. These customers were using close to 13.5 megawatts. During that time, the company had 19 applications for 16.3 megawatts that were pending. It had also gone ahead to identify 28 unauthorized operations, which had a watchlist of 12. 19 out of the 28 unauthorized operations have since been shut down.

Upon the execution of this new action, the company has reported an additional three operations that occur every week. The company has also expressed its concerns regarding unlawful Bitcoin activities. It has further revealed that these illegal activities are the main cause of fire hazards and frequent damages to the power grid system.

Grace Period Around the Corner for Illegal Mining Operations

There are a number of measures that this utility firm introduced in April 2018. These measures were meant to solve the issue of power that is used by the miners. They also touched on speeding up the swift power disconnection, as well as a rise of fees for an introduction to $6,150 for domestic crypto activities. Those who are mining virtual coins in light industries and other commercial space also had their introduction fees increased to $11,400.

Part of the measures has also included a grace period that is extended to illegal Bitcoin miners who haven’t been identified by the Power Utility District of North Central Washington. During this period, the illegal miners would have to bring their operations to a close and let the PUD know so that they can qualify for the said amnesty.

According to a report released by the company, the amnesty period will run until the 14th of May. Up to this point, the commissioners would carry out a public hearing that would determine if the firm should continue with the ongoing maintenance of the moratorium.

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