Cryptocurrency Mining

Bitcoin,  a form of cryptocurrency
Pixabay/Public Domain

Northern New York is a prime location for Bitcoin miners and block chain technology because of its low electric rates.  But a number of communities have imposed moratoriums on new cryptocurrency operations because their use of electricity is so intensive.  With such a potential lucrative and emerging technology facing challenges, the Adirondack North Country Association is sponsoring a summit at SUNY Plattsburgh today to explore the new industry’s impacts and potential.

Plattsburgh City Council considers cryptocurrency moratorium
Pat Bradley/WAMC

The Common Council chambers were packed Thursday evening as Plattsburgh leaders considered a moratorium on new cryptocurrency operations in the northern New York city.

Bitcoin,  a form of cryptocurrency
Pixabay/Public Domain

By now, you’ve probably heard of—and maybe even invested in — the online currency BitCoin.  But how are the cryptocurrencies made?  Apparently by using a lot of electricity.  In Plattsburgh, where there are low electric rates and a couple cryptocurrency entrepreneurs are sucking up lots of power, the mayor is proposing a law to curb the practice.