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Proposed New York Bitcoin mining ban watered down to allow green projects

June 10, 2021. Summarized by summa-bot.

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New York’s proposed legislation will now allow green-energy mining projects.

The initial New York Senate Bill 6486A sought to halt all crypto mining for three years in order to conduct environmental impact reviews on mining operations in the tri-state area.

There is no longer a specific time frame on the crypto mining ban with the bill preventing the expansion of any carbon-fuel powered mining operations, along with the establishment of any new mining operation using non-renewable energy sources.

Governor Cuomo stated on June 7 that he was not well versed in the proposed ban, however, he is aware of the environmental concerns surrounding the crypto mining industry:

New York legislators' examination of crypto mining appears to be related to its sustainable energy targets, with the bill referring the state’s “Climate Leadership and Community Protection Act”

An ongoing issue concerning some New York residents, is the approved expansion of Greenidge’s gas-fired Bitcoin plant on Seneca Lake — which intends to dedicate 85 megawatts of power to Bitcoin mining by 2022.

by summa-bot

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