Plattsburgh has become the first city in the US to ban cryptocurrency mining

3 comments

  1. Randomd0g - Reply

    tldr: ‘our electricity rates are really low and people were mining crypto here, so instead of increasing our electricity rates we’re going to ban crypto mining’

    …Right then.

  2. Holographiks - Reply

    Someone should challenge that legally. It honestly seems weird if they can just ban mining like that.

    Anyone with some legal experience know how this would hold up if challenged?

  3. zlinedavid - Reply

    Municipalities like this secure future contracts from power suppliers based on (primarily) the amount of power consumed and the variability in the consumption. The more power consumed and the more consistency there is (constant load vs spikes followed by 0), the better the price will be.

    Well, a mining farm consumes a metric assload of power, and it’s pretty damn consistent. Extremely desirable for an energy company, and likely to get a very competitive rate. Maybe not as low as that city has, but below market.

    So instead of outright banning mining, why not talk to the owners of these farms, find out their consumption patterns and then talk to their supplier and present them with a pile of consistent, heavy usage that could likely drive the price of their aggregate contract down even further?

    Oh, that would make sense. Of course.

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