NY passes US-first moratorium on reviving fossil gas crops to mine crypto

Digitally generated image of a bitcoin symbol on a glowing circuit board.

Enlarge (credit score: Getty Pictures | Andriy Onufriyenko)

New York’s state legislature authorised a invoice that may forestall fossil gas energy crops from being revived to energy cryptocurrency mining operations. If signed by Gov. Kathy Hochul, the proposed regulation would forestall new permits from being issued for 2 years.

It is a “first-in-the-nation cryptocurrency mining moratorium invoice,” advocacy group Earthjustice mentioned Friday. “Whereas the invoice wouldn’t cowl fossil gas burning crypto mining operations which have already utilized for brand spanking new or renewed air permits, it will make sure that any future amenities couldn’t obtain air permits for 2 years, whereas the State Division of Environmental Conservation conducts a radical research on proof-of-work crypto mining,” the group mentioned.

The invoice’s prospects regarded dim earlier this week however was handed by the state Senate in a 36-27 vote after 12 am on Friday morning. It was beforehand authorised by the Meeting with a 95-52 vote in April.

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