The City That Banned Bitcoin Mining

On March 15th, 2018, the city of Plattsburgh in upstate New York issued an 18-month moratorium on cryptocurrency mining. Plattsburgh is part of a long-standing power agreement that gives the city an allotment of some of the cheapest electricity anywhere in the world, but a recent influx of cryptomining companies and their energy-draining rigs have raised power prices at the expense of the general population. The ban is meant to be a temporary arrangement, but it could potentially end all cryptomining investment in the city. WATCH NEXT: CryptoHarlem is Teaching Encryption to the Over-Policed and Heavily Surveilled -- https://vice.video/2EJvKlg Subscribe to MOTHERBOARD: http://bit.ly/Subscribe-To-MOTHERBOARD Follow MOTHERBOARD Facebook: http://www.facebook.com/motherboardtv Twitter: http://twitter.com/motherboard Tumblr: http://motherboardtv.tumblr.com/ Instagram: http://instagram.com/motherboardtv More videos from the VICE network: https://www.fb.com/vicevideo