The city of Plattsburgh, New York announced on Thursday that it is temporarily banning the commercial mining of cryptocurrency for 18 months.
The official reasoning for the moratorium is to "protect and enhance the City's natural, historic, cultural and electrical resources."
Plattsburgh residents have seen skyrocketing electrical bills — as much as $100 to $200 increases — as a result of commercial cryptomining operations that mine for cryptocurrencies like bitcoin, according to Plattsburgh Mayor Colin Read, who spoke with Motherboard. The city is taking action to protect its citizens from those rising electrical bills that the city of Plattsburgh says is caused by cryptomining operations.
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