Bitcoin Mining Community in New York Awaits Outcome of State Senate Bill Banning Mining Operations Running on Carbon-Based Power Sources

June 10, 2022 08:50:00
  • Governor Kathy Hochul could change the fate of bitcoin mining in New York by vetoing the bill
  • The bitcoin mining community anticipates a domino effect that could span the entire country if this bill passes
  • The bill comes in the wake of the Climate Leadership and Community Protection Act requiring New York’s greenhouse gas emissions to be cut by 85% by 2050

Last week, New York’s lawmakers passed a bill that bans specific bitcoin mining operations running on carbon-based power sources. The bill, which originally passed the State Assembly in late April before heading to the State Senate, calls for a two-year moratorium on certain mining operations using proof-of-work authentication methods to validate blockchain transactions. Proof-of-work mining requires specialized gear and massive amounts of electricity to mine bitcoin. Ethereum has publicly announced efforts to switch to a less energy-intensive process but will need to continue using the same method for at least a few more months.

Those lawmakers backing the legislation want to curb New York’s carbon footprint by cracking down on the miners using electricity from power plants burning fossil fuels. For two years, unless a proof-of-work…

Read More>>

About CryptoCurrencyWire

CryptoCurrencyWire (“CCW”) is a financial news and content distribution company that provides (1) access to a network of wire services via InvestorWire to reach all target markets, industries and demographics in the most effective manner possible, (2) article and editorial syndication to 5,000+ news outlets, (3) enhanced press release services to ensure maximum impact, (4) social media distribution via IBN (InvestorBrandNetwork) to nearly 2 million followers, and (5) a full array of corporate communications solutions As a multifaceted organization with an extensive team of contributing journalists and writers, CCW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. By cutting through the overload of information in today’s market, CCW brings its clients unparalleled visibility, recognition and brand awareness. CCW is where news, content and information about crypto converge.

To receive instant SMS alerts from CryptoCurrencyWire, text “CRYPTO” to 844-397-5787 (U.S. Mobile Phones Only)

For more information, please visit

Please see full terms of use and disclaimers on the CryptoCurrencyWire website applicable to all content provided by CCW, wherever published or re-published:

CryptoCurrencyWire (CCW)
New York, New York
212.994.9818 Office

CryptoCurrencyWire is part of the InvestorBrandNetwork.