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The New York PSC ruled that upstate municipal power authorities can charge higher electricity rates to cryptocurrency companies. | Pexels

NYPSC Approves Higher Rates for Bitcoin Miners

Mar 19, 2018

Energy Market / NY PSC / New York / Generation / Transmission Planning

The New York Public Service Commission on Thursday ruled that upstate municipal power authorities can charge higher electricity rates to cryptocurrency companies in order to prevent disproportionate increases in local retail rates. The intense computer processing by cryptocurrency companies, such as Bitcoin miners, requires large amounts of electricity, prompting them...

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