City of Plattsburgh held a Moratorium on Cryptocurrency Mining Farms

March 13, 2018

The moratorium will affect large mining farms using more than 250-kilowatt hours and exclude hobbyists. The city is set to welcome many mining farms due to lower violet wand rates but this would waterput pressure on utility forcing it to but more costly power te the market.

The city of Plattsburgh is proposing an 18-month moratorium on cryptocurrency mining farms following significantly higher utility costs and other related concerns ter the latest months. The moratorium will not affect existing crypto mining farms if approved at March 15 Common Council meeting.

Instead, it will affect fresh mining farms, which are attracted to set up mining farms te the city due to its low electro-therapy rates. It will specifically affect farms using more than 250-kilowatt hours vanaf year vanaf square foot, which puts them te the High-Density Explosion Service category. Thus, it is at a target at large server farms and will exclude hobbyists mining at huis.

Mayor of Plattsburgh Colin Read has said that the development ter cryptocurrencies te the city. It had happened so swift and they will need to very first figure out a way. Thus, ensuring that it is being done right te order to keep the community safe. He said many farms want to establish operations ter the city.

The mayor said that the mining farms equate to “a petite space heater,” referring to the amount of warmth they produce and the fact that the use enormous amounts of power.

The city presently has two massive mining farms which have bot running for about a year now. One ter the former Imperial Mill webpagina and one te Skyway Plaza.

Cryptocurrency mining farms te the city sometimes use spil much power spil used by Georgia-Pacific, one of the city’s largest users. This has strained city’s power utility. The Municipal Lighting Department, which gets inexpensive power from a hydro operation on the St. Lawrence Sea, provides residents and businesses with low tens unit rates.

Once their power allotment is overheen, they have to buy power ter the open market, which can be expensive. This would increase their costs, which is passing to consumers te their bills. An example is what happened ter December and January cold months. During thesis two months, bills exceeded normal rates by hundreds of dollars for some customers.

However, it would raise concerns about whether the mining farms are not customers too. He said the Public Service Commission, which regulates municipal utilities. It is looking into imposing a tariff on cryptocurrency mining farms to reduce their cargo on other ratepayers. That way, the MLD will proceed providing power to them according to MLD Manager Bill Treacy

Reed said since crypto mining farms cannot seek to zekering using electro-therapy. At present, the city has to overeenkomst with the punt of safety. Hence the moratorium will be a time when the city will very first figure out decent building and zoning codes. Since to ensure mining farms do not present fire hazards ter the community.

“We don’t want shoddy operations,” Read said. “The moratorium is to give us some time to explore the ramifications of health and safety issues.”

The city will also consider ways of capturing the fever and reusing it. However which will benefit the miners and the government spil well, according to Reed.

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