On Friday, state senators in New York voted to approve a bill that would create a 2-year moratorium on crypto mining operations that use carbon-based power.
Greenidge Generation, a coal-powered plant in upstate New York, prompted the debate over crypto’s environmental impact in the state when it pivoted to Bitcoin mining last March.
Georgia has emerged as the clear leader in the states, accounting for 31% of the country’s hashrate.
Bitcoin and Ethereum both rely on proof-of-work network consensus that uses a lot of energy.
In a response to the tweet, Digital Currency Group CEO Barry Silbert reminded State Sen.
The part about the New York moratorium targeting the crypto industry specifically for its use of carbon isn’t new.
If you want to pollute, you’ll have to pay a premium,” John Buhl, senior communications manager at the Tax Policy Center, told Decrypt via Twitter DM.
A regularly scheduled campaign report filed with the New York State Board of Elections last Friday shows Hochul received $40,000 from Ashton Soniat, CEO of crypto miner Coinmint.