Plattsburgh Considers Cryptocurrency Venture Ban Amid Energy Concerns
Plattsburgh, New York is considering a temporary ban on cryptocurrency ventures due to concerns about energy consumption. The city has become known for attracting crypto miners because of its low electric rates.
According to Mayor Wendell Hughes, the proposed measure would give the city time to codify new zoning changes that ensure the city's energy allotment from the state isn't eaten up by new crypto or data centers. The mayor notes that these facilities can use as much as 50 megawatts of power.
Plattsburgh's total allotted energy is 105MW, with the proposed measure suggesting that half of this allocation could be used by crypto miners and data centers. Mayor Hughes emphasizes that these high-energy facilities do not contribute to higher utility rates for residents.
The proposal will first head to the county for approval before returning to the Common Council for a vote. If passed, it would mark the second time Plattsburgh has imposed a temporary ban on cryptocurrency ventures; the city was the first in the US to do so in 2018.