US Bitcoin to Restart Mining in Niagara Falls Under Strict Guidelines
23. April 2023Summary
- US Bitcoin Corp. has reached a tentative agreement with the City of Niagara Falls to restart operations.
- The miner must comply with strict noise reduction standards and permit applications.
- The company must pay an upfront fee, compliance fee, and reimburse attorney fees as part of the agreement.
Agreement Details
US Bitcoin Corp., a bitcoin mining company operating out of Niagara Falls, has reached a tentative agreement with the city to resume operations after being halted in March by a state supreme court judge. The miner will have to adhere to strict noise reduction standards as well as apply for all necessary permits in order to begin operating again.
Noise Reduction Standards
To comply with the agreement, US Bitcoin is required to limit noise production from the facility at no more than 65 decibels and submit completed applications for all permits needed to abide by the city’s new “high energy usage overlay district” regulations.
Fees & Reimbursement
As part of the agreement, US Bitcoin must pay an upfront non-refundable $50,000 fee upon signing it. In addition to this they must also pay a $100,000 compliance fee within 30 days of effective date and reimburse the city for $180,000 in attorney fees related to its enforcement action against them.