Article Image
News Link • Bitcoin

NY City Weighs 18-Month "Moratorium" On Bitcoin-Mining

• zerohedge.com by Tyler Durden

The WaterTown Daily Times reports that the problem is that mining for cryptocurrency, such as Bitcoin, absorbs a tremendous amount of energy in generating the virtual currency. Municipal Lighting Department Manager Bill Treacy says there are two mining farms in the city that they know of - one in the former Imperial Mill and one in Skyway Plaza, and there may be some smaller private mining operations in households in the city, he said.

The mining farms in the City of Plattsburgh have cropped up over the past year, officials say; and at times they have used up to 11.2 megawatts of power per month, which can be about 10 percent of the city's power supply — more than is consumed by Georgia-Pacific, one of the city's largest users.

This is a problem because, as part of the Municipal Electric Utility Association since the 1950s, the city is allotted a certain amount of inexpensive hydropower generated on the St. Lawrence River.

Join us on our Social Networks:

 

Share this page with your friends on your favorite social network:


CannerGrow.com