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Companies file suit against PUD

They allege “fear and loathing” of cryptocurrencies caused overreaction

 


Companies in Grant County that “mine” cryptocurrency with high-powered computers have filed a lawsuit against Grant PUD, whose commissioners voted in 2018 to raise electric rates for the emerging industry.

The companies say they chose to locate their businesses in Grant County because of the cheap power rates, and that increased rates will inevitably hurt their businesses. They are seeking money for financial losses they say they face, and they’re asking the court to order the electric utility not to implement its new “Schedule 17” rates for “evolving industries,” set to take...



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