Bitcoin Moratorium in Plattsburgh
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The small Champlain Valley city of Plattsburgh made big waves this spring when it instituted a moratorium on any new cryptocurrency mining. The move was prompted by a huge increase in the city's electric use which spiked the bills of some residents and businesses to levels they've never seen before.
The mining for Bitcoin, the most popular of the cryptocurrencies, requires bigger operations to run many computers at the same time which zaps energy usage in huge chunks. Plattsburgh has a unique setup where they are allotted a certain amount of cheap power per month, but if they go over that limit they have to buy it on the open market where prices are much higher.
This week we'll sit down with the mayor and a Bitcoin mine host to see where the city is five months after the decision and if the moratorium is any closer to ending.
Join us this week on your local PBS station.