A city in the U.S. state of New York could put an 18-month halt on new bitcoin mining operations in the area amid concerns from local officials.
Plattsburgh, according to reports, is weighing a proposed law that would impose a âmoratorium on commercial mining operationsâ until city officials can consider âzoning and land use laws and municipal lightning department regulations.â It was spurred by concerns over excessive power use in the area, drawn from Plattsburghâs access to hydroelectrical resources.
The proposed law was advanced by Mayor Colin Read, who told the Watertown Daily Times that the growth of crypto mining in Plattsburgh âhas increased our power usage and put us over our threshold, and it is affecting our ratepayers.â
According to the text of the measure â which will be the subject of a public hearing on March 15 â the moratorium would provide a degree of breathing space around discussions âbefore commercial cryptocurrency mining operations [result] in irreversible change to the character and direction of the City.â
Speaking to WCAX, a local bitcoin miner said he understood the rationale of wanting to protect local constituents. But that said, David Bowman of Plattsburgh BTC added that he doesnât think a full moratorium is necessary.
âI think itâs not a great idea to just completely ban the whole thing â itâs just too new,â he told the news outlet.
The conflict among local officials, bitcoin miners and city ratepayers has played out elsewhere in the U.S., including in Washington Stateâs Chelan County, which saw its own moratorium on high-rate customers â miners among them â amid a similar dispute in 2016.
Miners there ultimately saw their rates go up, though the region itself has attracted a number of mines given the hydro-power and relatively low cost of operation.
Hydroelectric power image via Shutterstock