US town bans bitcoin mining as its residents see power bills surgeA small lakeside town in upstate New York is fed up with bitcoin miners using up so much of its low-cost electricity. Plattsburgh, whose residents are a quick jaunt from the Canadian border, has put an 18-month moratorium on cryptocurrency mining to preserve natural resources, the health of its residents, and the "character and direction" of the city. For a year and a half, the almost 20,000-resident city will not consider new applications for commercial cryptocurrency mining. GETTY IMAGES The small town is fed up with bitcoin miners using up so much of its low-cost electricity. Some have estimated that bitcoin miners will use more power than electric cars in the near term.

Source: Stuff March 18, 2018 19:07 UTC