Central Washington Jurisdictions Call 'Time Out' On Bitcoin Boom

NW News Networks reports on Central WA cities and counties placing emergency zoning controls and moratoriums on cryptocurrency operations.

A preemptive move for the sake of safety and accurate planning, these decisions impact the plans of current and would-be bitcoin mining operations in the area, and could send the business to other regions.

Read the full article for more insight on how this could affect the region's citizens, infrastructure and economy.

Malachi Salcido interview on bitcoin technology, power consumption and more

Malachi Salcido goes on air with Michael Knight of News Radio 560 KPQ, discussing bitcoin past, present and future … and its impacts on markets locally, regionally and globally. Learn how public utility and power companies are working with the industry in the Pacific Northwest and along the West Coast … and what the future of bitcoin and blockchain technology may look like in the months and years ahead.

Bitcoin Mining Is Getting Bigger (and Bigger)

Power prices are affecting where the power players run their mines, and bitcoin miners are moving to where the power is cheapest (and regulations are friendly). Bitcoin mining consumes so much energy that this Morgan Stanley report estimates it will exceed that of an actual country. For the full scoop, read this well-written article (which includes a comparison to bitcoin mining energy consumption compared to energy consumption by electric cars) by Monica Savaglia on WealthDaily.com:

From Bitcoin.com: Small Washington Town is Becoming a Bitcoin Mining Epicenter

Bitcoin.com's Cindy Wang picks up on the story of Wenatchee's bitcoin mining activity. From the article:

"'We’ve come from just a few people out there who have been knocking on the door to all of a sudden to people who are banging on the door pretty loudly.'

Bitcoin mining is known to be energy-consuming. But miners here appear not to have this problem. Power is extremely cheap for the town— only 2 to 3 cents per kilowatt hour."

CNBC Visits Salcido Enterprises to Report on Bitcoin Mining in Wenatchee

CNBC was here January 11, 2018 to interview Malachi Salcido of Salcido Enterprises, Ron Cridlebaugh from the Port of Douglas County, and Steve Wright of Chelan County PUD. We posted videos in earlier posts, now here's a behind-the-scenes look at what happens during a nationally-broadcast interview:

From CNBC: Cryptocurrency mining puts electrical grid 'to the test'

Michelle Caruso-Cabrera interviews Port of Douglas economic development Ron Cridlebaugh on the impacts of Bitcoin mining in Douglas County, WA. From the article:

  • "Our infrastructure is actually being put to the test. We're full," said Ron Cridlebaugh, the Port of Douglas County economic development manager.
  • Cryptocurrencies such as bitcoin and ripple have skyrocketed in value recently. Many people have been trying to get in on the action.
  • Mining digital currencies requires a lot of electrical power as computers process gargantuan amounts of data.

From CNBC: Wenatchee Washington and the Bitcoin Gold Rush

Michelle Caruso-Cabrera reports for CNBC on why a small town hours from the nearest major city has become such a hot attraction for bitcoin miners. From the article:

"Wenatchee, Washington is home to a dozen of the largest bitcoin and cryptocurrency miners in the country. And the head of the local power utility, Steve Wright, says another 75 have inquired about coming here since the price of bitcoin surged in December."