Main navigation

New York Town Plans to Ban New Crypto Mining Operations for 90 Days

News
Fri, 07/23/2021 - 17:49
article image
Alex Dovbnya
Massena wants to temporarily put the freeze on new mining projects
New York Town Plans to Ban New Crypto Mining Operations for 90 Days
Cover image via stock.adobe.com
Read U.TODAY on
Google News

Massena, a small New York town that is situated along the Canadian border, is mulling over establishing a 90-day moratorium on new cryptocurrency mining projects, local news broadcaster WWNY-TV reports.

Steve O’Shaughnessy, the town’s supervisor, complained about “sea boxes” with mining equipment cluttering Massena’s streets:

We just want to make sure if they’re going to come here, that it’s a nice presentable building.

Despite having a population of about 12,000 people, Massena has been a major cryptocurrency hub for years because of its cheap hydroelectricity.

Related
China's Inner Mongolia Publishes Details of Bitcoin Mining Ban

In fact, the town is home to the largest cryptocurrency data center in the world that is operated by mining company CoinMint, which won approval to open its operation at an abandoned smelter back in February 2018.

Back then, O’Shaughnessy welcomed CoinMint and the 150 jobs it brought to the struggling border town.

China pushing miners out of the country might explain why Massena’s roadsides are being littered with Bitcoin mining machines. 

article image
About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.