Cryptocurrencies
Bitcoin Mining Banned for First Time in Upstate New York Town
- Plattsburgh places 18-month moratorium on mining operations
- Rule breakers to pay up to $1,000 each day they violate law
Bitcoin: What’s Coming in the Year Ahead
This article is for subscribers only.
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.