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Fitch Ratings warns of risks crypto miners pose to US power supply -Breaking


Fitch Ratings, a global credit rating agency in the United States warns public utilities to reduce the possibility that crypto mining might affect their power production.

Fitch Ratings issues a Monday notice The only utility that can supply the required power for many crypto-mining operations is Washington. This state has excess capacity. The agency claimed that though some crypto mining firms can become “the largest customer in a rural service territory,“ the operations typically bring in “very little additional economic benefits” from jobs or boosting the local economy.