Massena is a town in New York along the border with Canada. It has temporarily suspended the crypto mining operations in the area.
Crypto Mining Suspended On Aesthetic Grounds In Massena
Associated Press reported on Friday that because of several aesthetic reasons, the officials from town made a 90-day moratorium on new Bitcoin mining activities mandatory. Steve O’Shaughnessy is a Massena town supervisor. He stated that because of all the crypto mining activities in the area, the miners littered the roads with computers and other hardware that is needed to mine bitcoin. In his statement, Steve O’Shaughnessy further said, “We don’t want it littered with these trailers that are pumping out Bitcoin. We just want to make sure if they are going to come here, that it’s a nice presentable building.”
Now, the town officials on duty will continuously keep a watch. They will use the 90-day moratorium to make sure roadsides in Massena are not clogged with trailers and shipping containers anymore. And, even if there are any, they immediately are moved off-road. In the meantime, Massena Electric is expecting to sign deals with three different crypto firms. According to the previous report from Associated Press, this electricity firm is having its prohibition on how to deal with the new cryptocurrency miners. It further says that if it strikes any deal, it will secure the current customers. They can even greatly benefit from the increase in sales. Andrew McMahon is a Massena Electric superintendent. He said, “The key components for the developers are low-cost electricity and reliability, which are two things we’ve always had.”
There has been a great loss of factory jobs in small border communities across North America for almost about 10 years. Now, these bitcoin and crypto mining businesses are a sign that some industrial activities are returning to places like Massena. At such locations, cheap electricity is a major benefit for the bitcoin miners. This is why in exchange for that, they promise people jobs and a way to restart their local economy. Recently, there has been a huge crypto mining crackdown in China. Due to that, the hash rate started to transfer from East to West. This is proof that it will not take a long time for smaller North American communities to see greater Bitcoin mining activity.
In 2017, China banned cryptocurrency exchanges. This is when Huobi, an ex-Chinese cryptocurrency exchange, started moving its operations overseas along with others. The major locations included Hong Kong, Singapore, and South Korea. However, even after such a decline in hash rate, the largest bitcoin mining operations in North America have not stopped expanding their capacity. Their aim is to acquire a larger share of the market. This control of a larger share might even help the sector in gaining favor with regulators. It will work especially in the area of environmental protection.
For more such news related to crypto technology, visit our website.