New York Approves New Power Rate Structure for Crypto Mining

Crypto News | Latest News

New York regulators just approved the new electricity rate for cryptocurrency miners that allow them to negotiate contracts as reported by Bloomberg on July 12.

Several months ago New York granted approval to 36 power authorities to charge crypto miners more than consumers for electricity. However, Massena municipal utility company will introduce a new rate structure for crypto miners who are interested in conducting their operations there. The utility company will consider each contract on a case-by-case basis and will protect their customers from an increased rate.

John Rhodes, the New York State Department of Public Service Chairman stated…

FREE CRYPTO COIN JUNKY HANDBOOK - 147 page guide covering Crypto Fundamentals, Beginners/Advanced Crypto Trading Strategies, Crypto Mining Techniques, ICO Investment strategies, and so much more.

CRYPTO TRADING STRATEGY GUIDES - Whether You're Day Trading, Swing Trading, Or Just Investing...Our Extensive Guides Will Get You To Where You Want To Be.

“We must ensure that our customers pay a fair price for the electricity they consume, however given the abundance of low-cost electricity in Upstate New York, there’s an opportunity here to both encourage both economic development in the region as well as serve the needs of its existing customers”.

New York is known for their cheap electricity rates due to the abundance of hydroelectricity. Currently, residents of Massena pay an average energy charge of $0.039 per kilowatt hour. The national average residential rate is around $0.13 per kilowatt hour. New York state has recently become a destination for cryptocurrency miners who require energy intensive equipment for their cryptocurrency mining.

Areas that have an abundance of hydroelectric power have resisted the influx of cryptocurrency miners over the past few years, either through bans or increased electricity rates. The city of Plattsburgh, NY recently passed a moratorium (temp prohibition of activity) in March regarding new cryptocurrency mining operations in the area. The largest mining operation in the city reportedly used over 10% of Plattsburgh’s 104 megawatt electrical allotment for January and February.

Leave a Comment

Latest Crypto News

Bitcoin Signaling Bottom As Volatility Reaches Yearly Low States President of Blue Line Futures

California Based Reality Shares Joining Bitcoin Hedge Fund Arena

California-based asset manager Reality Shares has become the latest competitor in the Bitcoin hedge fund space, an anonymous source told Business Insider August 15. Reality Shares, which became known in the cryptocurrency space this year after launching the first Chinese blockchain ETF in June, has reportedly already

High Times to Accept Crypto in Its Initial Public Offering

High Times Will Not Accept Bitcoin in Its Initial Public Offering

Marijuana culture media group High Times Holding Corp. has decided not to accept Bitcoin (BTC) in its initial public offering (IPO), according to an August 13 filing with the U.S. Securities and Exchange Commission (SEC). The decision runs counter to the

How the SEC Actions Correlate With BTC & Market Prices

How the SEC Actions Correlate With BTC & Market Prices

Earlier this week, the cryptocurrency markets slumped: Bitcoin (BTC) lost its $6,500 support, and Ethereum (ETC) dropped well below the $400 mark (rates stand at $6,620 and $319 respectively by the press time). While it’s important

Tether Issues $50 Million Worth of Tokens

Tether Issues $50 Million Worth of Tokens

Tether (USDT) has issued new tokens worth $50 million on August 11, according to block explorer OmniExplorer. In late March, Tether had released 300 mln USDT tokens priced at $1 per token. Over the past 30 days, Tether’s market

bitcoin long live the king

Bitcoin: Long Live The King

If you’re wondering how you should treat Bitcoin, as an investment vehicle, allow me to share with you guys my non-expert opinion. End of story, thanks a lot for reading. FREE CRYPTO COIN JUNKY HANDBOOK

Something’s Brewing at Facebook’s Crypto Division

Something’s Brewing at Facebook’s Crypto Division

It’s not entirely clear what exactly is going on in Facebook’s nascent cryptocurrency division, but several reports suggest that something is afoot. Facebook Meets with Cryptocurrency Project Stellar The first comes from Business Insider, who reports

Everipedia Launches First P2P Blockchain Encyclopedia

Everipedia Launches First P2P Blockchain Encyclopedia

Cayman Islands-based blockchain startup Everipedia formally launched its peer-to-peer (P2P) encyclopedia August 9, a press release confirmed. Designed to be an “autonomous encyclopedia without the need for advertisements or donations,” the project uses the EOS network to function and will reward

Dish Satellite Provider Adds Bitcoin Cash as Payment Option

Dish Satellite Provider Adds Bitcoin Cash as Payment Option

U.S. satellite service provider DISH has announced it has added Bitcoin Cash (BCH) as a payment option and migrated to the BitPay payments provider, according to an official press release August 9. The DISH Network Corporation was among the first

Binance Releases Demo of Decentralized Exchange

Binance Releases Demo of Decentralized Exchange

The CEO of cryptocurrency trading platform Binance Changpeng Zhao announced a demo of the platform’s decentralized exchange in a tweet today, Aug. 9. In a six-minute video attached to the tweet, Zhao presented a “casual, early, pre-offer”  demo of

Sign Up Below!
Airdroppin the Latest Crypto News, Trading Strategies, Tools, & Reviews



1
Bitcoin
Bitcoin
$6,419.31
0.34%
2
Ethereum
Ethereum
$292.54
2.84%
3
XRP
XRP
$0.2908
1.78%
4
Bitcoin Cash
Bitcoin Cash
$527.32
2.27%
7
Litecoin
Litecoin
$56.390
0.71%
8
Cardano
Cardano
$0.096829
-0.15%
6
Stellar
Stellar
$0.2191
-2.04%
15
NEO
NEO
$16.655
3.15%
5
EOS
EOS
$4.742
2.10%
12
IOTA
IOTA
$0.4673
-0.14%

Crypto Guides & Tutorials

 Crypto Reviews

Subscribe to Our Social Media Daily Crypto Memes
Follow, Like, and Share Our Memes With The World


Pin It on Pinterest

Plus Free Crypto Trading Guides, Tutorials, Latest Crypto News,
and Altcoin Reviews. (Coming Soon: Pro Trading Signals)
SIGNUP FOR YOUR FREE
CRYPTO COIN JUNKY
HANDBOOK
DOWNLOAD NOW
We hate spam as much as you do. Unsubscribe anytime.
Plus Free Crypto Trading Guides, Tutorials,
Latest Crypto News, and Altcoin Reviews
(Coming Soon: Pro Trading Signals)
DOWNLOAD NOW
We hate spam as much as you do. Unsubscribe anytime.
SIGNUP FOR YOUR FREE
CRYPTO COIN JUNKY
HANDBOOK
Plus Free Crypto Trading Guides, Tutorials, Latest Crypto News,
and Altcoin Reviews. (Coming Soon: Pro Trading Signals)
SIGNUP FOR YOUR FREE
CRYPTO COIN JUNKY
HANDBOOK
DOWNLOAD NOW
We hate spam as much as you do. Unsubscribe anytime.
Plus Free Crypto Trading Guides, Tutorials,
Latest Crypto News, and Altcoin Reviews
(Coming Soon: Pro Trading Signals)
DOWNLOAD NOW
We hate spam as much as you do. Unsubscribe anytime.
SIGNUP FOR YOUR FREE
CRYPTO COIN JUNKY
HANDBOOK