Some Albany lawmakers say the cryptocurrency mining moratorium passed earlier this month has been misunderstood.
It targets only large mining operations that use old, fossil fuel-burning power plants to generate energy for their massive computing needs. And the moratorium applies only to those seeking to obtain or renew a permit going forward.
What You Need To Know
Mayor Adams said this week he’ll encourage Governor Hochul to veto a cryptocurrency mining moratorium
The recently passed legislation targets large mining operations at fossil fuel-burning power plants
Supporters say crypto mining at power plants will make it impossible to reach the state’s climate goals
Governor Hochul has so far not stated her position on the bill
“I am pro-crypto, I am pro-crypto mining in the state of New York,” said state Senator Kevin Parker, a sponsor of the bill. “But it all has to happen in a way that is consistent with our climate goals.”
The bill’s future is in doubt, however, thanks in part to...
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