A small lakeside town in upstate New York is fed up with Bitcoin miners using up so much of its low-cost electricity.
Plattsburgh, whose residents are a quick jaunt from the Canadian border, has put an 18-month moratorium on cryptocurrency mining to preserve natural resources, the health of its residents, and the “character and direction” of the city.
“It is the purpose of this Local Law to facilitate the adoption of land use and zoning and/or municipal lighting department regulations to protect and enhance the City’s natural, historic, cultural and electrical resources,” Plattsburgh said after holding a public hearing on the matter Thursday.
For a year and a half, the almost 20,000-resident city will not consider new applications for commercial cryptocurrency mining. And if you break the rules, you’ll owe Plattsburgh up to $1,000 for each day you violate the moratorium.