New York proposes to veto Bitcoin mining after a bestial peak in electricity consumption

Plattsburgh is a small, quiet town in New York County, United States. It may also become the first town in the United States to prohibit the installation of Bitcoin farms. The decision is still pending approval, but has a strong reason: electricity consumption.

Two Bitcoin mining farms have recently been installed in Plattsburgh. Both companies are perfectly legal, but they have set off the alarms of the local electricity network because between the two they consume 11.2 megawatts of energy. It is 10% of the total energy consumed in all of Plattsburgh.

The municipality of the town fears that if more farms are installed the electricity grid is unable to cope with the rise in supply and may suffer falls that affect the other neighbors.

Plattsburgh enjoys one of the lowest electricity bills in the United States, thanks to an agreement with the hydroelectric power stations in the area dating back to the 1950s. The price of electricity has been what has attracted the two Bitcoin farm. Currently they already have problems to fill the town when there are temporary increases in consumption at certain times. The arrival of more Bitcoin farms can cause the network to collapse.

While it finds a technical solution to the matter, the people in charge of the city council have proposed a moratorium that prevents the installment of more Bitcoin farms or to extend the existing ones during a period of 18 months. [via Motherboard ]

Eyinmisan Ajuwaghan

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