US City Mulls 18-Month Moratorium on Bitcoin Mining

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Plattsburgh City in New York is seriously considering putting an 18-month moratorium on new bitcoin mining operations in the area. This comes in the heels of expressions of concerns by local officials.

Should the moratorium push through, its application will be specifically limited to commercial mining operations, and will be implemented at least until “zoning and land use laws and municipal lightning department regulations” can be put in consideration. This concern stems largely from the fact that the city relies on hydroelectrical resources, and mining activities could have a severe impact on it.

Mayor Colin Read notes that the mining activities in their area “has increased our power usage and put us over our threshold, and it is affecting our ratepayers.” The proposed moratorium is set to be heard in public on March 15.

On the other hand, local bitcoin miners express their understanding over their local government’s predicament, although he feels a complete moratorium is unnecessary. Said David Bowman of Plattsburgh BTC, “I think it’s not a great idea to just completely ban the whole thing – it’s just too new.”

Hydro-powered areas attract bitcoin miners because of relatively low cost of operations.

 

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