New York becomes the first state in the nation to limit cryptocurrency mining

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ALBANY, NY (WENY) – Last week Gov. Kathy Hochul signed a crypto mining moratorium, making New York State the first in the nation to ban certain cryptocurrency mining technology infrastructure.

“Governor Hochul did the right thing by putting real New Yorkers over these failing outside speculators who care more about lining their own pockets than they do about the planet,” said Yvonne Taylor, Vice President, Seneca Lake Guardian.

The new legislation will establish a two-year moratorium on new and renewed permits for proof-of-work crypto mining operations housed by fossil fuel burning power plants.

It will also require the Department of Environmental Conservation to conduct an in-depth study on the environmental impacts of crypto mining operations and how they affect New York’s ability to meet the goals mandated in the Climate Leadership and Community Protection Act.

Some lawmakers and advocates are also calling on Gov. Hochul to “finish the job” and shut down the existing crypto mines operated, Greenidge Generation in Yates County, and Fortistar in North Tonawanda, near Buffalo.

“New York should shut down the Greenidge and the Fortistar facilities now. We know there are problems in terms of the air impacts, DEC has already made that determination,” said Richard Schrader, New York Legislative and Policy Director, NRDC.

Advocates said the amount of energy consumed by these crypto mining facilities is huge. They said its key for the public to understand this is very harmful to the environment.

“These crypto guys they’re only mining for money. We’re fighting for our families and our future,” said Eric Weltman, Food & Water Watch.


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