Bitcoin Miner Questions Plattsburgh, New York’s 18 Month Crypto Moratorium Ban
Plattsburg’s crypto moratorium is not new. Rather, the city enacted the ban a few months ago in an effort to curb a mining boom due to low electricity rates as the city determined how to reasonably regulate the industry. Since enacting the moratorium, the city has adopted new rates and regulations, but the ban is still in effect.
According to Ryan Brienza, CEO of mining firm Zafra LLC,
“We’re the local guys in town and it’s really hurt our business. We’ve just been trying to grow. Some of the biggest hedge funds in the country and stuff have contracted us and they wanted to locate here back before the moratorium but once this moratorium hit all the interest is gone now. So Plattsburgh really missed out on a big opportunity.”
In an effort to end the moratorium early, Brienza appeared before the city counsel and presented a new device that channels excess heat by mining rigs, thereby mitigating the city’s energy costs. Even after the presentation, the city has not made any indication that it will end the moratorium early. It is one of the first cities in the United States with a ban on mining.