The Satoshi Action Fund is taking a major stand against the state of Idaho. Dennis Porter, the CEO & co-founder of Satoshi Action Fund has claimed that the Public Utility Commission of Idaho is discriminating against Bitcoin mining.
The Idaho Public Utilities Commission approved a special rate for Bitcoin mining companies and cryptocurrency facilities. However, GeoBitmine, a mining company based in Idaho has labeled that the new rate is discriminatory against the company.
Why Idaho Could Be Discriminatory Against Bitcoin
Satoshi Action Fund has leveled that the Idaho Public Utilities Commission is trying to set a precedent. The precedent will allow the commission to discriminate against the legal use of electricity by GeoBitmine. They have argued that GeoBitmine and other Proof-of-work miners are data center businesses.
They have compared bitcoin mining companies to big-tech companies like Google and Amazon in this regard. Moreover, they have also argued that Bitcoin mining companies like GeoBitmine are also providing recycled heat for agriculture and farming uses in Idaho.
According to the Fund, if a company like GeoBitmine is forced to operate under the newly created Schedule 20, the company would be unable to make any profits. They also believe that the operation might even cease to exist.
