Back to the list

The Residents of North Carolina are Facing Difficulties Due To Crypto Mining Activities


www.thecoinrepublic.com 24 January 2023 15:00, UTC
Reading time: ~2 m

Blue Ridge Mountain town’s citizens in North Carolina are facing difficulties due to crypto mining activities. For the past few weeks, the residents near the town have been complaining about unbearable noises and power outages.

Some residents raised concerns in interviews with regional news channels. They demanded a ban on crypto mining activities near residential areas.

Murphy, North Carolina resident Mike Lugiewicz complained, “The noise is insane and if you are on the mountain top above the crypto mine, it’s even worse. The public institutions have to do everything possible to ban them and not allow those to get on their grid.”

Some states like North Carolina and Texas, offer tax exemptions for electricity that attracted institutions to develop crypto mining networks in mentioned areas. Currently, the state has five operational cryptocurrency mines, from Greenville and Wilson to Boone and Murphy.

Recently, four new mining facilities have been planned to develop in the state. But the residents are protesting about upcoming crypto mining projects due to high energy utilization, noise pollution and environmental disruption. But the regional administrations were in favor of developing crypto mines to increase economic growth.

Earlier, the majority of the mining sites were in China. But in May 2021, China’s State Council banned crypto mining and trading. Currently, the US is in the top position in terms of crypto mining sites. But the US citizens were not happy about this news. These crypto-mining activities are criticized for adversely impacting electricity grids and causing environmental destruction.

New York Governor banned Bitcoin Mining Companies

The New York government has started working on net zero carbon emission, and has decided to ban Bitcoin mining entities for the next two years until Proof-of-Work (PoW) based mining companies use 100% renewable energy. Kathy Hochul, the governor of New York, stated that permits would not be renewed unless the Bitcoin mining companies adopt a renewable energy system.

It requires powerful computers that need large amounts of electricity consumption. As per the reports, Bitcoin mining utilizes nearly 115 terawatt-hours of electricity annually, resulting in 56 tons of carbon production in the nation.

Bitcoin mining owners said a ban on PoW mining would impact the crypto industry in the United States.

The CEO of an institutional-grade Bitcoin mining company stated that “the regulatory environment in New York will not halt their target carbon-based fuel Proof-of-Work mining but will also likely discourage new renewable-based miners from doing business with the state due to the possibility of more regulatory creep.”

Back to the list