Henderson County to hold public hearing on cryptocurrency mining
HENDERSONVILLE, N.C. (FOX Carolina) - The Henderson County Board of Commissioners will hold a public hearing Monday night to consider a moratorium on cryptocurrency mining.
Officials said the hearing is being held because of problems caused by unregulated cryptocurrency mining has the potential to cause significant harm to the county’s citizens.
According to the board, the process for the amendment of the county’s land development ordinance to regulate cryptocurrency mining if and when necessary requires time for relevant hearings and notices. Henderson County adopts the following Order placing a moratorium on “cryptocurrency mining”.
For the purpose of this Order only, the Board made the following findings:
- “Cryptocurrency mining” is the method of verifying transactions on a digital ledger for a blockchain using more specialized and often interconnected computers housed in a single facility, receiving a reward for their verifying transactions in the form of new cryptocurrency for their computational effort
- Cryptocurrency mining requires the use of a great amount of electricity for the calculations, and additional quantities of electricity or other cooling methods to disperse the heat created in the calculation process. In addition, cryptocurrency mining creates noise which is often unreasonably disturbing to nearby landowners.
- A moratorium is the only way to avoid negative effects of new cryptocurrency mining in the County while County staff and its planning board studies and brings to this Board an amendment to Chapter 42 to address any negative effects of cryptocurrency mining found.
The public hearing will take place Monday, May 1 at 5:30 p.m.
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