UtilityDive is reporting that New York regulators will allow municipal power providers to charge higher rates to cryptocurrency mining operations. Electricity costs for high-density load customers will increase beginning in March, said the PSC, if customers they do not quality for economic assistance, and have a maximum demand exceeding 300kW, and a load density that exceeds 250kWh per square foot per year.
This isn't the first time we have covered the massive power consumption that cryptocurrency mining brings with it. Just last week we wrote of a town in Washington experiencing first hand the results. Good to see New York deal with this, hopefully more will be on board.
In upstate New York, there are at least three cryptocurrency companies operating, and in some cases, these customers account for a third of their local muni's load, according to the Public Service Commission.
This isn't the first time we have covered the massive power consumption that cryptocurrency mining brings with it. Just last week we wrote of a town in Washington experiencing first hand the results. Good to see New York deal with this, hopefully more will be on board.
In upstate New York, there are at least three cryptocurrency companies operating, and in some cases, these customers account for a third of their local muni's load, according to the Public Service Commission.