Crypto
Beaver County bitcoin mining permit upheld by land tribunal after noise concerns
A bitcoin mining operation has been allowed to keep its development permit after concerns were raised about noise pollution.
The Beaver County project by Calgary-based MAGA Energy proposes two sea can containers of computers powered by four generators drawing from a natural gas well on site. The computers would operate 24 hours a day, seven days a week, running data algorithms to create cryptocurrency.
The facility would be located on a rural property 55 kilometres southeast of Edmonton.
The Beaver County Development Authority approved a development permit for the project. Notifications from MAGA were sent to property owners within 1,500 metres and nine adjacent owners by the development authority but no concerns were raised as a result.
However, a property owner beyond the notification area appealed the approval. Noise from an existing similar development 600 metres from the owner was creating a nuisance and they were concerned the proposed development would cause similar problems.
The Alberta Utilities Commission sets out permissible sound levels depending on population density and proximity to transportation, ranging from 40 to 60 decibels. The appellant argued the permissible sound level of 40 dB is excessive in a rural area and a lower limit should be used.
A Dec. 20 decision from the Alberta Land and Property Rights Tribunal upheld the permit approval.
“The predicted noise level of the generators is substantially below the threshold set by the AUC. No evidence was presented to suggest otherwise,” it reads.
“The generators incorporate some noise reduction features in their design, and additional mitigation features can be added if required.”
According to submissions from MAGA, the theoretical noise levels for eight residents ranged from around 19 to 25 dB.
The permit approval included a number of conditions, including around monitoring and potential sound mitigation. The project is also subject to Beaver County noise control bylaw.
During the appeal, the development authority reconsidered its position and was concerned about potential inaccuracies in noise calculations. It submitted revised conditions for consideration, including a new condition for the permit to be temporary for 18 months.
The well is projected to support natural gas to the generators for two to three years.
The tribunal added one condition: a five-year time limit.
The tribunal found that the five-year time limit would allow MAGA to “exhaust the resource in their estimated time frame,” and would enable the development authority to look at the operation’s impact.
The tribunal noted MAGA is still responsible for all other applicable permits and approvals required for the project from the appropriate authorities.
PHOENIX (AZFamily) — The high-profile disappearance of Nancy Guthrie has brought new attention to the world of cryptocurrency, with multiple ransom notes sent to media outlets demanding payment in Bitcoin in exchange for Nancy Guthrie or her whereabouts.
What is cryptocurrency?
Cryptocurrency is digital money that only exists online. It operates on a network or blockchain rather than being controlled by a bank. It allows person-to-person transactions and uses a public ledger to record transactions. Crypto is most frequently used for online payments or investments.
Crypto expert Robert Hockensmith said every transaction is tracked and verified.
“Any time you buy it, any time you sell it, any time you use it to buy a product or service, any time you connect it or take it to another place, it is identified as you touching it. That’s how it works,” said Hockensmith, who works with AZ Money Guy.
Why criminals use cryptocurrency
Despite the tracking capabilities, criminals use crypto because it’s not that simple to trace. A cybersecurity expert said a lot of criminals have found creative ways to avoid being traced.
They’ll use multiple crypto wallets and addresses to obscure their identity. Funds can be transferred globally almost instantly, and if some IP addresses are hidden, they can be harder to locate. Once a transaction is confirmed, it’s extremely difficult to reverse.
“If you think about, for example, ID theft, cybercriminals might literally steal someone’s identity and that might include their access to something like Coinbase and then use that victim’s Coinbase to receive stolen funds and move it somewhere else, same way they used to do it with wire transfers,” said Eric Foster, cybersecurity and crypto expert and CEO of Tenex.AI.
Another crypto expert said criminals will keep moving their crypto over and over again, making it harder and harder to trace. He calls crypto the modern way of transporting large sums of money and said it has become the currency of choice for criminals.
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What is cryptocurrency? How it works
Cryptocurrency is a form of digital currency that uses cryptography for security and operates independently of central banks.
Perry and Jackson township police are partnering to investigate crimes related to cryptocurrency. The cooperation has already resulted in the recovery of stolen assets, police say.
Perry Township Police Chief Bryan D. Taylor announced Feb. 10 that as part of the collaboration, Jackson Township police will provide certified cryptocurrency investigative support for cases originating in Perry.
He wrote in a social media post that the partnership allows Perry police to leverage specialized expertise in an evolving area of financial crime, ensuring more thorough investigations and improved outcomes for victims.
“This partnership has already produced positive results,” Taylor wrote. “In a recent case originating in Perry Township, investigative efforts led by Jackson Township Police Department resulted in the successful recovery of cryptocurrency funds, which were returned to the victim. Recovering stolen digital assets is often complex and challenging, making this outcome especially meaningful for the victim and the community.”
He extended appreciation to the Jackson Township Police Department and Jackson Detective Jeffrey Aynes “for their professionalism, technical expertise and dedication throughout the investigation. Their commitment to collaborative law enforcement, and victim-focused outcomes exemplifies the strength of regional partnerships.
“Cryptocurrency crimes present unique challenges that require specialized training and expertise,” he said. “This partnership strengthens our ability to pursue these cases effectively and reinforces our shared commitment to serving and protecting our communities.”
He wrote that the Perry Township Police Department remains committed to adapting to emerging crime trends, using partnerships and pursuing justice for victims of financial crimes.
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