DooKey
[H]F Junkie
- Joined
- Apr 25, 2001
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- 13,576
Because of increased costs to tax payers for electric power, the city council in Plattsburgh has approved a moratorium on new cryptocurrency farms in the city. Apparently, the city has low electric costs because of hydro power in the area, but once they reach a certain level of use the power costs go up for all tax payers in the city. There are two farms in the city currently and tax payers have been complaining of rising electric rates and they blame it on the farms. It appears that the city agrees. Thanks cageymaru.
"It's a comparative advantage for these companies to come in and get the cheap electric, and they're going to keep coming in until the electric price gets very close to the commercial rates and its going to punish the local taxpayers and the ratepayers," resident Jeff Moore said.
"It's a comparative advantage for these companies to come in and get the cheap electric, and they're going to keep coming in until the electric price gets very close to the commercial rates and its going to punish the local taxpayers and the ratepayers," resident Jeff Moore said.