Miners from NY State Consume One Third of All Power

March 17, 2018

Companies engaged into mining in the New York State will have to pay for electricity more than before. The corresponding decision has already been adopted by the state utilities regulator.

The New York State Public Service Commission has enacted that the state municipal authorities are now eligible to raising power tariffs for the companies involved into mining cryptocurrencies.

The decree was taken in response to the petition filed by the New York Municipal Power Agency. The organization was concerned that local citizens will have to pay more for electricity due to mining companies with the industrial value of their activity being not very high.

According to the agency, mining companies consume one third of all power in the state while providing for few jobs and making no investments into developing the local community.

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