Power-sucking Bitcoin ‘mines’ spark backlash

Bitcoin “miners” who use rows of computers whirring at the same time to produce virtual currencies began taking root along New York’s northern border a couple of years ago to tap into some of the nation’s cheapest hydroelectric power.

But as the once-high-flying bitcoin market has waned, so too has the enthusiasm for bitcoin miners. Mining operations with stacks of servers suck up so much electricity that they are causing power rates to spike for ordinary customers. Some officials question whether it’s all worth it for the relatively few jobs created.

In Plattsburgh, which has two such plants, the prospect of more cryptocurrency miners has led officials to enact an 18-month moratorium on new operations. And state regulators have now allowed utilities to charge higher rates to cryptocurrency miners.