Ephrata, a little town with a population of fewer than ten thousand citizens located in the state of Washington, has decided to ban the cryptocurrency mining activity from its territory yesterday, a ban that will be in effect for a whole year. This decision follows the trend of small towns being opposed to the mining industry by several factors. But can something be done to change this trend?
Ephrata And Its Crypto Attraction
Without a doubt, miners have been taking small towns like Ephrata and others in Grant County as a preferred location for establishing cryptocurrency mining facilities and startups. And it is easy to see why.
Ephrata and all these small towns present significantly lower power tariffs than what can be found in other bigger areas. Ephrata is below the national power average, and we bet this fact has been taken into account by cryptocurrency miners and investors at the time of settling there.
But crypto mining businesses in the city have caused quite the divide between citizens of this town, with most of them supporting the measure that was taken by the city almost unanimously, with voting held and resulting 6-1 in favor of the ban.
Reasons For The Moratorium
The only council member that voted against the moratorium, Matt Moore, argued that this could be closing the doors to a good, legit and tax paying industry to the town. The economic card was its reason for opposing the ban.
Surprisingly, the other side that supported the ban also wields the economic card as the prime motive for doing it. Cryptocurrency mining operations are criticized for spending too much energy and producing next to none work posts in return.
But something that could also be affecting the perception of the public about this kind of startups is the position that they are occupying in the city. Cryptocurrency mining is a power hungry process that needs active cooling for the mining hardware.
This cooling and the air conditioning equipment creates unpleasant sounds and emissions that bother anyone around the facility. Sadly, a facility was located in a residential area, creating unnecessary problems for the people around it.
Not The First, Not The Last
Ephrata followed the footsteps of many small towns that have already banned cryptocurrency mining. Plattsburg, in the state of New York, was the first city that banned mining in the whole country, back in March.
But we can guarantee it won’t be the last one. The moratorium will only apply to new companies wanting to enter this town, all the ones present now will be safe.