Massena, New York is planning a moratorium on cryptocurrency mining.




A new cryptocurrency mining operation in New York near the Canadian border intends to impose a 90-day moratorium in order to keep local roadsides clear of trailers and computer-laden shipping containers.

Massena Town Supervisor Steve O’shaughnessy stated that officials decided to develop new rules for miners after watching trailers with computers on the city’s major roads.

He stated to WWNY-TV. 

Crypto-currency operations have been carried out in this part of north New York for years due to the availability of cheap hydropower. To perform the complex calculations required to mine cryptocurrencies, operations may necessitate the use of hundreds of computers.

Massena Electric is in cryptocurrency negotiations with three operations and has imposed a moratorium on working with new operations.

“Electricity and reliability are key elements for developers, both of which we’ve always had,” said Andrew McMahon, superintendent of Massena Electric.

A New Gold Rush in Crypto Mining

Many miners are especially eager to be rewarded with Bitcoin. Of course, you don’t have to be a miner to own cryptocurrency tokens. You can also buy cryptocurrencies with FIAT currency, swap them with Bitstamps, or buy them by shopping. You can also publish blog posts on platforms that pay users in cryptocurrency, or open interest-bearing crypto accounts. or by purchasing Bitcoins with Ethereum or NEOs.

Steemit is an example of a medium-sized crypto-blog platform, with the exception that users can pay bloggers in STEEM, a proprietary crypto-currency. Then STEEM can be replaced with Bitcoin in other places.

This Bitcoin award is intended to encourage miners to contribute to the primary goal of mining: legitimising and monitoring Bitcoin transactions to ensure their effectiveness.

Bitcoin is a “decentralised” cryptocurrency that does not rely on a central authority, such as a central or state bank, to monitor regulations because these responsibilities are distributed among a large number of users worldwide.




Recent Articles

RIGZ Cleaner Energy Crypto-Mining ETF Launched by Virdi Funds

0
The Viridi Cleaner Energy Crypto-Mining & Semiconductor ETF was launched. Viridi is a registered investment advisor and emerging fund manager that provides eco-friendly cryptocurrency...

Massena, New York is planning a moratorium on cryptocurrency mining.

0
A new cryptocurrency mining operation in New York near the Canadian border intends to impose a 90-day moratorium in order to keep local roadsides...
Common Bitcoin Investment Mistakes

Some Of The Common Bitcoin Investment Mistakes That Cause Trouble

0
Investing in cryptocurrencies has skyrocketed in recent months all over the world. Aside from the rise of digital finance, Elon Musk, and the Covid-19...
According To The RBI, It Is Time For Digital Currency To Counter Crypto.

According To The RBI, It Is Time For Digital Currency To Counter Crypto.

0
The RBI has stated that it is working on a phased digital currency implementation strategy and is researching cases where it can be used...

According to Thomas Peterffy, he owns some cryptocurrency because “you have to play the...

0
Thomas Peterffy stated on Thursday that he has invested in cryptocurrencies but remains sceptical of the digital asset class's long-term prospects. "I have put a...

Related Stories

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Stay on op - Ge the daily news in your inbox