Thirty bitcoin, 40 percent higher. And that proved a real budget-buster for the residents of chilly Plattsburgh. And then there are local companies who have relied on cheap energy. Our electric bills changed overnight. Here at the company, you mean? Yes, 20 youtube 30 percent increase in the electric bill.
Tom Recny of Mold-Rite Plastics, where workers 60s out 11 million products every day. Mining, closures, jars, and more recently child-resistant caps for the cannabis market. But margins are thin. Plattsburgh was driven over its mining quota, says Recny, because miners were gobbling energy.
More than twice what we consume. A simple video explains what they use the power for. Miners use special software to solve bitcoin problems and are issued a certain number of Bitcoins in exchange. The mayor has a 60s right in his office.
To find the solution, and then add it to the so-called blockchain, a running record of all transactions. That takes more power. This here is an actual state-of-the-art Bitcoin machine.