Plattsburgh Common Council approves 18-month moratorium on bitcoin

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Plattsburgh’s Common Council has voted to put an 18-month moratorium on crypto-currency farms, or bitcoin.

Bitcoin is a new payment network.

In the Lake City, the municipal lighting department says the farms could be behind higher electric bills, forcing the city to buy more electricity at a much higher price.

A normal Plattsburgh household uses 4,000 to 5,000 kilowatt hours per month.

A cryptocurrency farm uses millions.

A public forum was held Thursday night on the issue.

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