The crypto miners who set up shop in Northern NY to take advantage of cheap hydro and wind power caused electricity prices to spike for local residents, resulti

The crypto miners who set up shop in Northern NY to take advantage of cheap hydro and wind power caused electricity prices to spike for local residents, resulting in municipalities leveraging new taxes on the companies or issuing outright bans. This article is from 2018: Plattsburgh went over its power allotment and was forced to purchase electricity on the open market for far higher prices. This cost was distributed among the city’s residents, some of whom ended up paying between $100 and $200 more for their electricity than usual. https://www.vice.com/en/article/8xk4qv/bitcoin-ban-plattsburgh-coinmint-mining https://www.vice.com/en/article/8xk4qv/bitcoin-ban-plattsbur... Massena (near the Alcoa facility) this year issued a moratorium so the city could draw up new regulations: “The moratorium is a pretty straightforward procedure. The language is relatively clear. The idea is that we place a moratorium on any further cryptocurrency mining development while we get some regulations in place that will govern those types of facilities. The planning board had indicated, and I agreed that the code lacked any real regulatory scheme for these types of facilities within the town,” Mr. Gustafson said. https://www.nny360.com/communitynews/business/town-of-massena-agrees-to-90-day-moratorium-on-future-cryptocurrency-mining-operations/article_7d8b46f8-5ab4-5a63-8b8c-b2d5a22f2903.html https://www.nny360.com/communitynews/business/town-of-massen... https://www.northcountrynow.com/letters/snake-oil-alert-blockchain-industries-says-massena-resident-0230614 https://www.northcountrynow.com/letters/snake-oil-alert-bloc...