20220510Comment(1)_1.pdf

From:PUCWeb Notification
To:Jan Noriyuki
Subject:Notice: A comment was submitted to PUCWeb
Date:Tuesday, May 10, 2022 7:00:09 AM
The following comment was submitted via PUCWeb:
Name: Coleen Hodson
Submission Time: May 9 2022 7:44PMEmail: [e-mail]
Telephone: [phone]Address: 323 W Jefferson St Apt 204
Boise, ID 83702
Name of Utility Company: Idaho Power
Case ID: IPC-E-21-37
Comment: "I’m writing today to voice my concerns about the potential impact of cryptocurrency mining on Idaho’s power structure. As you are aware, China was the forefront
for crypto related activity until September 2021 when the country banned all crypto related activity. BitFuFu, a mining company backed by Chinese mining giant Bitmain, simply
abandoned an estimated 80,000 mining machines at the end of 2021 for plans to start over in the United States. Other Crypto miners quickly moved their mining operations to, at that time,
crypto-friendly Kazakhstan. However, early in 2022, the industry was pushed out of Kazakhstan when the country massively reduced the miners’ power supply. Miners are being
forced to pay higher power costs and have been moving to the United States where the industry is beginning to concentrate. Both Chelan and Douglas County in Washington State
have been dealing with the crypto industry and its significant power usage. At a minimum, I understand that miners have agreed to pay heavy hook-up fees and finance needed
infrastructure upgrades. As Idaho has one of the cheapest power rates - and power costs are the major expense associated with mining crypto - it seems likely that Idaho will be a magnet
for the industry. I fully support Idaho Power's Schedule 20-Speculative High-Density Load proposal. While I too am agnostic as it relates to cryptocurrency and mining, I do not believe
that the crypto miners will add ANY economic value to the communities in which the mining occurs. I appreciate the Commission's and Idaho Power Company's proactive approach to this
potentially serious potential abuse of Idaho's natural resources. Regards, Coleen Hodson "
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