The county of Buncombe has decided to extend the temporary ban on cryptocurrency mining operations due to concerns over the strain it puts on the local electricity grid. This decision comes after numerous complaints from residents about the noise and environmental impact of these mining facilities. The moratorium will remain in place until further studies can be conducted to assess the long-term effects of cryptocurrency mining on the community.
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The Buncombe County planning and zoning department is still navigating the world of cryptocurrency mining. Nathan Pennington, the county’s planning director, requested an extension on the temporary ban on cryptocurrency mining at a recent meeting. The department is working on creating regulations for this industry, which is still being debated at the congressional level. Cryptocurrency mines in nearby areas have been known for their noise, disruption, and high energy consumption. Despite the name, cryptocurrency mining does not involve physical digging but instead relies on computer servers to solve complex algorithms.
Buncombe County initially imposed a moratorium on cryptocurrency mining in May of 2023, and the commissioners agreed to extend it until May 2025. In other news, Barnardsville is set to receive a new bridge to address flooding issues, with over $6.5 million in state funding allocated for the project. The new bridge near N.C. Hwy. 197 and Paint Fork Road aims to mitigate flooding from Dillingham Creek.
Additionally, Buncombe County approved a seven-year agreement with FCC Environmental Services to take over solid waste management from Waste Pro starting January 1, 2025. The decision came after Waste Pro’s contract extension was denied due to a proposed rate increase. The new FCC rate is set at $28.65 per month, with a locked-in price for the first two years.
On a side note, Sarah Gross has been appointed as the commission’s new clerk, and the county received a positive third-quarter financial report projecting revenues at 100.4% of budget. For more updates on Buncombe County, tune in to the bi-weekly meetings held at 200 College St., Room 326, in downtown Asheville. You can also view the full meeting recording and agenda online.
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1. What is a moratorium on cryptocurrency mining?
A moratorium is a temporary ban on cryptocurrency mining, which is the process of verifying transactions on blockchain networks using computing power.
2. Why did Buncombe County extend the moratorium on cryptocurrency mining?
Buncombe County extended the moratorium to further study the environmental impact of cryptocurrency mining operations and develop regulations to address potential concerns.
3. How long will the moratorium on cryptocurrency mining in Buncombe County last?
The moratorium has been extended for another 90 days, giving officials more time to investigate and draft regulations for cryptocurrency mining activities.
4. Can individuals or companies still mine cryptocurrency in Buncombe County during the moratorium?
No, the moratorium prohibits new cryptocurrency mining operations from being established in the county until further regulations are put in place.
5. What steps can cryptocurrency miners in Buncombe County take to comply with the moratorium?
Cryptocurrency miners should halt any new mining operations and work with local officials to understand and comply with the regulations once they are finalized.
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