New York is redefining its proposed law and is targeting only Bitcoin and Ethereum miners connected to power plants that produce carbon emissions into the environment.
The proposal of New York, United States, against mining cryptocurrencies, softened after the state's initial intentions were published in early May. At that time, the New York State Senate introduced a bill stating that it wanted to end all bitcoin mining activity (BTC) and ethereum (ETH) that took place within its territory, for at least 3 years and until it could evaluate the environmental impact that these operations would generate on the environment.
However, the new bill of law, modified and more focused on reality, only targets miners who operate with dirty energy, that is, those cryptocurrency miners who are connected to power plants that produce carbon emissions.
Although the battle for energy consumption generated by the main networks block chains and cryptocurrency industry growth continues, it appears that New York lawmakers are taking a slightly more leisurely approach, albeit with the same goals of minimizing the environmental damage that this activity can cause.
It may interest you: Bitcoin mining, an opportunity for the production of clean and renewable energy
From “all miners” to “only those who operate with dirty energy”
The new bill seeks to conserve, enhance and protect existing natural resources in New York State, reducing carbon and other greenhouse gas emissions into the environment by 85% by 2050.
To achieve its goals, the state proposes not to approve new applications or issue new permits for the installation of power plants that use carbon-based fuels or that provide, in whole or in part, “dirty” electricity to farms or cryptocurrency mining facilities.
The state also proposes not to approve applications for renewal of permits or licenses for power plants or mining farms that operate on fossil fuels, which pollute and cause damage to the environment. Applications for increased operation or energy production for power plants or for crypto mining companies that fall into the fossil fuel-based energy category will also be rejected, the proposal states.
The bill also seeks to require bitcoin and ethereum miners to declare their energy consumption on a regular basis, in order to subsequently document and monitor the carbon footprint they produce with their mining operations.
Cryptomining, an activity in constant growth
One of the concerns that the New York State Senate has pointed out, and that led it to take these measures, it says, is the accelerated growth of cryptocurrency mining such as Bitcoin and Ethereum within the territory.
The Senate says the number of crypto miners setting up shop in New York is growing at an alarming rate, driven by the abundance of cheap energy in the region. Thus, the proposed new measures will help to curb all those intending to set up or expand within the state with energy from carbon-producing power plants. On the other hand, it seems to leave the way open for those operating with clean and renewable energy sources, such as solar, hydroelectric and wind energy.
Green initiatives for crypto mining
It is worth mentioning that several crypto mining companies are already promoting new bitcoin mining projects with clean energy, such as Blockstream y Square, who just signed a agreement to build a new Bitcoin mining farm that will run on solar power. Other companies like gazpromneft from Russia, and Upstream Data y Crusoe Energy Systems In the United States, they are already implementing solutions to reuse all the surplus and waste from oil activity, converting it into clean energy to power their bitcoin mining equipment, while reducing CO2 emissions into the environment.
For his part, the mayor of Miami wants turn the city into a major technology and cryptocurrency mining center of global reference.
The Bitcoin Mining Council was also recently established in the United States. (Bitcoin Mining Council) an organization of the Michael saylor, CEO of MicroStrategy and Elon Musk, owner of Tesla, are taking part to help and promote greater transparency regarding the energy consumption of cryptocurrencies, helping to mitigate the hostile media narrative against Bitcoin, Ethereum and other cryptoassets that operate under the consensus protocol of proof of work (PoW).
Continue reading: Miami interested in Bitcoin mining, Suarez will turn the city into a mining center with clean energy
