Crypocurrency miners in the city of Plattsburgh, New York, are urging local authorities to lift the nearly year-long indefinite moratorium enforced against the industry.
As it stands, crypto mining has long been a controversial subject among U.S. government officials and regulators. While some major mining firms are expanding its operations in the country, a number of U.S. territories, including Washington in which Bitmain has recently established a $20 million data center, are enforcing blanket bans on new mining operators.
As per a previous report in October, local authorities in Plattsburgh have indicated that it is mulling over potentially regulating the crypto mining industry in the city, on top of the 18-month moratorium initially implemented in March, in an effort to mitigate noise pollution associated with crypto mining operations within the jurisdiction. And while local authorities appear contented with the implemented measure, it did not sit well with crypto mining operators.
According to a WAMC post published November 27, during a previous meeting held last month, pre-moratorium miners had suggested the possibility of reversing the prevailing ban. Among those who spoke during the meeting includes Ryan Brienza of Zafra, who claimed that the enforced clampdown on crypto mining operations has largely contributed to the waning interest in the nascent industry, subsequently resulting in wasted opportunities for the city in general.
In a more recent council meeting Brenzia presented a rather unusual proposal to the city authorities, stating:
“My company Zafra, we are looking to place an invention that we’ve created in Plattsburgh around the city which is a box which contains the heat from these cryptomining machines and can disperse it into any building in the city. In return it would be free of charge to the city as well you would get free heat which would save the city money from cutting your electric bill and the heating bill in any of these buildings. We have investors behind us and we’re ready to do this. We’re just kind of looking for this moratorium to be ended so we’re able to move forward. It’d benefit the taxpayers and the city and this would be a first in the world for this to be demonstrated.”
While the proposal did not specify any details on how to go about executing the plan, the solution presented would appear to be a mutually beneficial measure for both parties, albeit completely contingent on the city’s decision to reverse the ban. The proposal was presented to Mayor Colin Read, Councilor Peter Ensel, and Councilor Rachelle Armstrong.
When asked by Councilor Ensel whether the device would still prove profitable under the current operating structure, Brenzia conceded that the market is nowhere near its profitability levels earlier, concluding that the moratorium would first need to be lifted prior to the deployment of the system, only then will they be able to assess its success.
As it stands, there still hasn’t been a final decision to date whether or not authorities will lift the prevailing ban on the crypto mining industry.