9 Cryptocurrency Firms Sue Washington State Utility Over 50 Percent Rate Hike

A major utility in the U.S. state of Washington, Grant County public utility district, and its commissioners are facing a lawsuit filed by nine cryptocurrency firms. The suit alleges that they “acted inappropriately in creating and approving a new rate that raises electricity costs” for cryptocurrency miners.

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Lawsuit Filed

Grant County public utility district (Grant PUD) in Washington state has revealed that nine cryptocurrency firms have filed a lawsuit against it and its commissioners relating to the increased electricity costs imposed on them for mining cryptocurrencies.

At a meeting which took place on Jan. 8, the commissioners agreed that “Grant PUD would cover the cost of legal defense for commissioners Tom Flint, Dale Walker and Larry Schaapman, as well as former commissioners Terry Brewer and Bob Bernd, and 10 PUD employees,” the meeting note reads, adding:

All are co-defendants in a suit filed against Grant PUD in U.S. District Court of Eastern Washington by nine cryptocurrency-related firms who allege Grant PUD, its commissioners and some employees acted inappropriately in creating and approving a new rate that raises electricity costs for them and other new ‘evolving industry’