The New York Public Service Commission (PSC) has approved new electricity rates for cryptocurrency miners in Upstate New York.In a press release issued by the New York PSC, high‐density power consumers like cryptocurrency miners under the Massena Electric Department will pay new utility rates. The new rules approved by the New York PSC aims to protect existing electricity customers while at the same time encouraging miners from setting up shop in the area.
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New York is seeking to foster growth in its cryptocurrency mining sector, with the New York State Public Service Commission (PSC) approving new electricity rates for Massena Electric Department. The new provisions will facilitate “high‐density load customers, as such cryptocurrency companies” accessing “individual services agreement tariff[s],” including “protect[ion] […] from increased supply costs.”.
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The state of New York has endorsed a new power rate structure for crypto miners who are interested in conducting operations within the Massena municipal utility.
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