New York Cryptocurrency Miners Face New Power Rates

New York Cryptocurrency Miners Face New Power Rates

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New York Cryptocurrency Miners Face New Power Rates

  • New York state regulators have given permission to a municipal utility provider to charge higher power tariff on high density power consumers, including cryptocurrency miners, under separate service agreement.
  • The New York State Public Service Commission said Thursday that it has approved new electricity rates for Massena Electric Department, which will become effective on July 17


Crypto At A Glance


New York Cryptocurrency Miners Face New Power Rates Crypto At A Glance New York state controllers have affirmed another power rate plot for cryptographic money diggers that will enable them to arrange contracts, Bloomberg detailed July 12. As per Bloomberg, a while back the territory of New York offered authorization to 36 metropolitan power specialists to charge crypto excavators more than different purchasers.

The Massena metropolitan utility will present another rate structure for crypto mineworkers who are keen on directing activities there. The utility will think about contracts on a case-by-case premise, which will shield other utility clients from expanded rates. New York State Department of Public Service Chair John Rhodes said in an announcement:

"We should guarantee that business clients pay a reasonable cost for the power that they devour. Be that as it may, given the plenitude of ease power in Upstate New York, there is a chance to serve the necessities of existing clients and to energize financial improvement in the locale."

Because of a plenitude of hydroelectricity, New York is known for modest power rates. Private purchasers in Massena pay a vitality charge of about $0.039 per kilowatt hour, where the national normal private rate is $0.13 per kilowatt hour.

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