Published on July 13th, 2018 | by bitcoin0
A new set of Electricity rate for Crypto miners created by New York State
A new electricity rate scheme for cryptocurrency miners has been approved by New York state regulators.
State regulators in New York allowed a municipal utility provider to implement a new set of electricity rates for cryptocurrency miners.
Massena’s municipal utility will consider contracts on a case-by-case basis with a view to protect other utility customers from overpaying for electricity.
Just four months ago, New York regulators informed all the municipal power authorities about the necessity to introduce higher rates for crypto miners in comparison to the rates that are paid by other customers.
New York has always been known for cheap electricity rates that were introduced due to its abundance of hydroelectricity.