The cryptocurrency fever seems not to have come to an end yet. Since many users continue to mine Bitcoin and other digital currencies. Something that is causing problems and controversy in many cases. As has happened in the city of Plattsburgh in the state of New York. Since the city has become the first to ban cryptocurrency mining.
A vote has been held in the city council. In said vote, unanimously, it was cryptocurrency mining prohibited for the next 18 months. One of the reasons for this decision is the enormous energy consumption that this process carries out.
In the words of the mayor himself, Colin Read, the city has one of the lowest electricity rates in the world. Something that has motivated miners of Bitcoin and other currencies to use the city as their mining center. Since the electricity costs become much lower.
In the case of Plattsburgh, about 4.5 cents per kilowatt-hour are paid. The average in the United States is about 10 cents. So it is less than half. In addition, the city has a special price for companies that make intensive use of electricity. In these cases, 2 cents are charged. Something that Bitcoin miners have wanted to take advantage of.
In fact, Coinmint is a company dedicated to Bitcoin mining and settled in the town of Plattsburgh. Between January and February the company has 10% of the city's total energy consumed. A sample of the large amount of energy that this process consumes. For this reason, the city council has taken action after residents complained about the price increase on their bills.
Since given the consumption of Bitcoin mining, the city had to buy electricity on the open market, which is much more expensive. Something that has resulted in more expensive bills for city dwellers. Therefore, they make this decision and the mining of Bitcoin and other cryptocurrencies remains banned for the next 18 months.
