On March 15th, 2018, the city of Plattsburgh in upstate New York issued an 18-month moratorium on cryptocurrency mining.
Plattsburgh is part of a long-standing power agreement that gives the city an allotment of some of the cheapest electricity anywhere in the world, but a recent influx of cryptomining companies and their energy-draining rigs have raised power prices at the expense of the general population.
The ban is meant to be a temporary arrangement, but it could potentially end all cryptomining investment in the city.
WATCH NEXT: CryptoHarlem is Teaching Encryption to the Over-Policed and Heavily Surveilled --
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The City That Banned Bitcoin Mining [K-m6o7JPX2W]
On March 15th, 2018, the city of Plattsburgh in upstate New York issued an 18-month moratorium on cryptocurrency mining.
Plattsburgh is part of a long-standing power agreement that gives the city an allotment of some of the cheapest electricity anywhere in the world, but a recent influx of cryptomining companies and their energy-draining rigs have raised power prices at the expense of the general population.
The ban is meant to be a temporary arrangement, but it could potentially end all cryptomining investment in the city.
WATCH NEXT: CryptoHarlem is Teaching Encryption to the Over-Policed and Heavily Surveilled --
Subscribe to MOTHERBOARD:
Follow MOTHERBOARD
Facebook: Twitter: Tumblr: Instagram: More videos from the VICE network: #wann ist das halving von bitcoin #wie viele menschen besitzen bitcoins #jp morgan bitcoin prognose #0 005 bitcoin #crypto uuid