Gov. Pillen Signs Bill to Protect Power Grid from Cryptocurrency Operation Use

NEBRASKA, May 21 - CONTACT:

Laura Strimple, (402) 580-9495

 

Gov. Pillen Signs Bill to Protect Power Grid from Cryptocurrency Operation Use

 

LINCOLN, NE – Today, Governor Jim Pillen signed into law LB526, introduced on his behalf by Senator Mike Jacobson. The legislation helps to preserve electrical service to homes, businesses and other Nebraska customers, by establishing requirements for cryptocurrency mining operations. In addition to notifying power utilities in advance, the bill also provides for payment or a letter of credit covering costs associated with potential infrastructure upgrades.

"With the opportunity in expanding this emerging industry, comes responsibility. This bill provides the guardrails needed to ensure that our electrical grid can handle the increased demand. By requiring mining operations to contribute to grid upgrades and be transparent about their energy use, we're protecting our infrastructure,” said Gov. Pillen. 

In addition to the provisions above, the bill allows utilities to impose terms and conditions on these operations, such as requiring them to shut down during times of peak electrical demand and requiring that mining operations report annually on their energy consumption.