2018-7-13 03:13 |
A municipal utility provider in New York got the green light from state regulators to create a new set of electricity rates for cryptocurrency miners.
While primarily an administrative move, it’s a potentially significant development for cryptocurrency miners hoping to tap the hydroelectrical resources located in New York.
However, given the abundance of low-cost electricity in upstate New York, there is an opportunity to serve the needs of existing customers and to encourage economic development in the region.”
Thursday’s move wasn’t the first of its kind out of the Commission – earlier this year, the body approved a bid to levy miners with higher rates in the form of a new tariff.
The decision came in response to a petition filed by the New York Municipal Power Agency (NYMPA), which expressed concern that local residents may experience higher rates due to the higher-than-average consumption rates of miners.