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A city in upstate New York has become the first in America to effectively ban any new commercial-grade cryptocurrency miners from powering up. Mayor Colin Read and the city council of Plattsburgh this month signed off on a measure to place an month moratorium on any new industrial-scale crypto-coin crafting operations within the city limits.
Alt-cash mining companies typically require a permit to operate within Plattsburgh — now no more applications will be approved for a year and a half. Located on the banks of Lake Champlain near the border with Canada, Plattsburgh has a population of 19, people, and is a hotspot for boating and bass fishing.
Its proximity to the lake also means Plattsburgh is able to enjoy low-cost hydroelectric power, making it extremely attractive to large-scale crypto-mining operations. As Reg readers know, alt-coin crafting rigs can be tremendous power hogs. Just two of the registered miners accounted for around 10 to 15 per cent of the city's entire power consumption, we're told.
Now, to slow down the power slurp, Plattsburgh has decided to block any new operations until at least the Fall of Existing crypto-coin mining outfits will be allowed to stay for the time being. The city notes that, during the moratorium, it will look into whether a long-term zoning and power law on cryptocoin mining is needed. Meanwhile, New York state has ruled that "high-density load customers," cough, cough, crypto-miners, face rising electricity bills due to the pressure they place on electric supply grids.
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