US city put moratorium on commercial cryptocurrency mining

City stiffens after it runs out of power

Plattsburgh, New York officials said they are putting an 18-month moratorium on commercial cryptocurrency mining.

The city became a hotbed for startups due to its abundant, cheap hydroelectricity but last month, the city exceeded its supply and was forced to buy power on the open market.

That purchase caused higher bills for customers and a backlash.

To me, the solution here would seem to be for the utilities to mine Bitcoin themselves. It’s not the most-complicated business and they could ensure the machines were only running when they had surplus energy. It’s an operation so simply that even the government should be able to run it.

Anyway, expect to see more of this kind of thing in the future.

0 replies

Leave a Reply

Want to join the discussion?
Feel free to contribute!

Leave a Reply

Your email address will not be published.