A town in the Washington area puts the freeze on new cryptocurrency mining operations…
Hot on the heels of warnings over the state of the planet’s climate, the focus has again zoomed in on cryptocurrency mining. A major electricity hog, cryptocurrency mining has been in decline anyway in 2018, a consequence of the price drops that crypto has experienced over the past months. Nonetheless, cryptocurrency mining farms – invariably focused on Bitcoin – still show a return.
But no longer in the city of Ephrata. Based in the Washington area of the United States, it’s now been announced that new cryptocurrency operations in the area have been put on hold for the next year.
It’s the result of a vote held at the end of last week by the city’s council, and the directive was passed by six to one. In the worlds of Kathleen Allstot, a member of the council, “this is a one-year break. She added that “we wait to see what’s going, make sure this fits in Ephrata and the Grant County has figured out how to get power to it”.
It came after complaints over cryptocurrency miners in the area, who were having to use very noisy industrial-level air conditioning systems to keep their technology cool. That said, existing operations will not be affected by the block. It just affects new ones for the time being.
On top of this, the Grant County area is hiking up electricity prices for cryptocurrency companies, effective from April next year. Four existing operations in the area will be affected.