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WEBVTT GET LIFTED ITS JUST TAKEN A WHILE BUT IM GLAD IT HAPPENED IT'S A GOOD NIGHT FOR RYAN BRIENZA. THE PLATTSBURGH ENTREPRENEUR CAN NOW EXPAND HIS CRYPTOCURREN CY BUSINESS. 14:27:45:15 WE'RE GOING TO BE LOOKING AT EXPANDING IT. NOT SURE AT THE SAME BUILDING OR MAYBE SOME OTHER LOCATIONS. WE HAVE SOME IN MIND SO WE'RE GOING TO BE FIGURING THAT ALL OUT TOMORROW HE'S ABLE TO DO THIS AFTER A 5-1 VOTE BY THE PLATTSBURGH CITY COUNCIL. LIFTING ITS BAN ON CRYPTOCURREN CY MINING.... THE BAN WAS PUT IN PLACE LAST MARCH -- TO PROTECT TAXPAYERS FROM HAVING TO FOOT THE BILL IF THE CITY WERE TO GO OVER ITS HYDROPOWER THRESHOLD...AN D PURCHASE MORE EXPENSIVE POWER CRYPTOCURREN CY MINERS USE COMPUTERS 24-7 IN ORDER TO UNLOCK THE VIRTUAL CURRENCY, BITCOIN. 14:17:38:12 WE NEED TO BE MORE CONSCIOUS OF OUR ELECTRIC ENERGY USAGE AND USE IT IN MORE RESPONSIBLE WAYS THE CITY'S NEW LAW SAYS THAT IF THE MUNICIPALITY GOES OVER ITS HYDROPOWER THRESHOLD, THE CRYPTOCURRE NCY MINERS WILL HAVE TO PAY FOR MORE EXPENSIVE POWER -- THEY'LL ALSO BE REQUIRED TO RECYCLE 70- PERCENT OF THE HEAT GENERATED FROM THEIR COMPUTERS... SOMETHING BRIENZA IS ALREADY WORKING ON 14:27:58:16 WE'RE ACTUALLY WORKING ON ANOTHER SIDE PROJECT THAT'S KIND OF A PROTOTYPE IN ANOTHER TOWN AT THE MOMENT THAT HOPEFULLY WE CAN BRING TO PLATTSBURGH. AND THAT ACTUALLY CREATES A LOT OF OTHER JOBS ASSOCIATED WITH CRYPTO MINING USING THE EXCESS HEAT FOR SOME OTHER STUFF HE SAYS ITS SOMETHING THE COMMUNITY SHOULD BE EXCITED ABOUT 14:29:01:10 I JUST HOPE THAT THEY'LL SEE ACTUALLY THE BENEFIT THAT CRYPTO OR CRYPTOCURREN CY, BLOCK CHAIN AND BITCOIN WILL BRING TO PLATTSBURGH IN PLATTSBURGH, LIZ STRZEPA, NBC5 NEWS. THE NEW HAMPSHIRE HOUSE

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"I'm excited. I was surprised (the ban) was going to get lifted. It's just taken a while, but I'm glad it happened," Ryan Brienza said.Thursday was a good night for Brienza. The Plattsburgh entrepreneur can now expand his cryptocurrency business."We're going to be looking at expanding it. (We're not) sure (if we'll expand) at the same building, or maybe (consider) some other locations. We have some in mind so we're going to be figuring that all out tomorrow," Brienza said.He's able to do this after a 5-1 vote by the Plattsburgh City Council, which lifted its band on cryptocurrency mining Thursday night.The ban was put in place last March to protect taxpayers from having to foot the bill if the city were to go over its hydropower threshold and purchase more expensive power.Cryptocurrency miners said they value the city's cheap hydropower rates since they use computers 24/7 in order to unlock the virtual currency, bitcoin. "We need to be more conscious of our electric energy usage and use it in more responsible ways," Plattsburgh Mayor Colin Read said.The city's new law said that if the municipality goes over its hydropower threshold, the cryptocurrency miners will have to pay for more expensive power if they're the reason more power needed to be purchased off the grid. They'll also be required to recycle 70 percent of the heat generated from their computers.It's something Brienza is already working on."We're actually working on another side project that's kind of a prototype in another town at the moment that hopefully we can bring to Plattsburgh. (It) actually creates a lot of other jobs associated with (cryptocurrency) mining, using the excess heat for some other stuff," Brienza said.He said its something the community should be excited about."I just hope that they'll see actually the benefit that (cryptocurrency mining) will bring to Plattsburgh," Brienza said.