Plattsburgh Considers Crypto Venture Ban Amid Energy Concerns

Plattsburgh, New York is considering a temporary ban on cryptocurrency ventures. The city's low electric rates make it an attractive location for crypto miners, but Mayor Wendell Hughes says this influx has put pressure on the city's energy allotment from the state.

The mayor explained that while the city's total allotment is 105 megawatts, new crypto and data centers can use up to 50 megawatts of power. He emphasized that these high-energy facilities do not contribute to higher utility rates for residents.

In 2018, Plattsburgh became the first US city to halt cryptocurrency mining activity until regulators could catch up with the technology. If passed, the proposed measure will go to the county for approval before returning to the Common Council for a vote.