Bitcoin Mining Comes To New York As Lawmakers Approve Power Allocation

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On January 30, the local government of upstate New York awarded cloud mining service Coinmint the approval to take control of the Bitcoin mining operations of an abandoned smelter.

According to the report of local news broadcaster WWNYTV, the vote was delivered by lawmakers in favor of awarding 15 megawatts of low-cost power to subsidiary North Country Data Center (NCDC), and was subject to the agreement of tariff among members, as per the New York Power Authority Board of Trustees and New York State Canal Corporation Board of Directions.

The venture should require some $165 million investment in infrastructure from Coinmint, and is expected to generate as much as 150 jobs for the people of nearby town Massena and other surrounding areas. New York State had previously not been open to cryptocurrency mining. “That’s been one of our main marketing points is that we have cheap reliable power,” said Steven O’Shaughnessy, Massenta town supervisor, to WWNYTV. “We’re definitely going to look forward to something like that.”

For Assemblywoman Addie Jenne, “This is a large allocation of power, but certainly 150 jobs is nothing to sneeze at.”

 

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