New York state authorities: energy companies now allowed to raise power costs for miners

The Public Service Commission of New York has “OK’d” higher rates for mining enterprises. It is now allowed for town governments and councils of NY to fee miners higher than other energy users in order not to make the power bill shocking for a regular resident. When miners, entrepreneurs who use vast hardware rigs to get new units of cryptocurrency in exchange for power-demanding calculations, uncontrollably consume power, the cost for energy might easily skyrocket for everybody else in the same populated area.

In other news from New York, a town in this part of America called Plattsburgh has decided not follow in the footsteps of Wenatchee. It will preserve its low-cost hydropower instead of allowing miners to use it. This event was one of the main reasons behind the NY PSC decision, by the way.

One of the former authority figures from the New York Federal Reserve Bank has already called power consumption made by miners ‘worse than frivolous’. As James McAndrews believes, using real energy to mine virtual currency is unacceptable these days, when America is trying to optimize the power grid.

Image courtesy of Paul Frederick / YouTube channel PF Productions