From Business Insider
The city of Plattsburgh, New York announced on Thursday that it is temporarily banning the commercial mining of cryptocurrency for 18 months. The official reasoning for the moratorium is to "protect and enhance the City's natural, historic, cultural and electrical resources." Plattsburgh residents have seen skyrocketing electrical bills — as much as $100 to $200 increases — as a result of commercial cryptomining operations that mine for cryptocurrencies like bitcoin, according to Plattsburgh Mayor Colin Read, who spoke with Motherboard. The city is taking action to protect its citizens from those rising electrical bills that the city of Plattsburgh says is caused by cryptomining operations.Read more: http://markets.businessinsider.com/currencies/news/plattsburgh-new-york-cryptocurrency-mining-ban-2018-3-1018865406
This article and many others I've seen pop up with this story are being a little heavy handed in calling it a ban on cryptocurrency mining. It's a moratorium on new commercial mining operations coming to town to take advantage of their cheap electricity meant to encourage job growth. I can see their reason. They offered cheap electricity hoping to create jobs in their city but these mining operations came instead of industrial manufacturing. Mining operations don't employee many people for the electricity they use.
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