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According to the decision by Justice Michael Tammen of the British Columbia Supreme Court, BC Hydro’s ban on crypto mining was justified by considering energy demands and aiming to preserve affordable energy access. The judge highlighted the unique energy consumption characteristics of crypto mining and stated that BC Hydro’s estimates had been exceeded.

Justice Tammen stated:

“The evidence overwhelmingly establishes that cryptocurrency mining operations have unique electrical consumption characteristics. The total megawatt hours required to meet all interconnection requests from cryptocurrency operations in 2023 far exceeded BC Hydro’s forecast.”

Conifex, on the other hand, believes that the ongoing ban is a missed opportunity for the province. The company stated that it believes the provincial government is missing out on various opportunities to increase energy affordability and stimulate economic growth.

This decision is considered a significant development not only in British Columbia but also in the world of crypto mining. It comes at a time when such regulations are increasingly being debated, especially following the two-year moratorium on crypto mining imposed by New York State.

The post Canadian Provincial Court Supports Ban on Crypto Mining appeared first on Coin Engineer.

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The marketplace officially launched on Halloween 2022 and focused on gaming assets in partnership with ImmutableX.

This development marks GameStop’s exit from the crypto space, following the company’s decision to cancel its crypto wallet in August of last year. The message on the website states that customers can sell their NFTs on other marketplaces because digital assets are stored on the blockchain, not on any one storefront.

However, it is unlikely that this news will shock observers, as GameStop’s NFT marketplace failed to make a major impact on NFT trading volumes. The marketplace’s Twitter account has also been inactive since September of last year. Still, this move marks a significant turn for the company, which was trying to rally retail investor fans by entering Web3 in 2022.

Marketplace Launch

In the midst of a decline in video game stores, GameStop has made a new move. The company officially launched its long-in-the-works NFT marketplace.

The marketplace will offer assets for Immutable X games such as Gods Unchained, Guild of Guardians, and Illuvium, in addition to other Web3 games. All transactions will be free.

Immutable, the company behind Immutable X, partnered with GameStop in February of last year with the goal of creating a gaming-focused NFT marketplace. Immutable was valued at $2.5 billion in March of last year.

The post GameStop Closes NFT Marketplace appeared first on Coin Engineer.