The City That Banned Bitcoin Mining

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.

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