New York regulators approve new electricity rates for cryptocurrency miners
According to a report by Coindesk, the New York State Public Service Commission announced that the Massena Electric Department is now allowed to qualify high-density load customers for services under an 'individual service agreement'.
According to a senior official of the Commission, the said decision was taken as there was a desire to balance the need of charging 'fair' rates and attracting business to the region.
As per the new rules, any electricity customer with a maximum demand of over 300 kwph (kilowatt per hour) will qualify for the service under a negotiated contract.
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