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Bitcoin mining ban new york

Bitcoin mining ban new york

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Kelles also predicted that the needs to be bitcoim into law by Governor Kathy Hochul, comes as the crypto mining industry has opened an increasing number of operations in the. Similar crypto mining operations are pressure on the governor to services on this website.

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New York to Ban Bitcoin Mining
The New York Senate passed Bill SD banning cryptocurrency mining in the state when relying on carbon-based energy sources to power their operation.1 Here's. New York Governor Kathy Hochul signed legislation temporarily halting certain kinds of crypto mining. The state became a new hub for Bitcoin. New York's two-year ban on new proof-of-work cryptocurrency mining is likely to have only a small direct effect on the power-hungry industry�.

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The Verge The Verge logo. The legislation is specifically aimed at cryptocurrency mining companies in the state that consume large amounts of energy by utilizing "proof-of-work" authentication � the process that uses sometimes millions of high-powered computers to track and secure transactions in bitcoin and other virtual currencies. Do you support this bill? According to the New York Senate, this bill "establishes a moratorium on cryptocurrency mining operations that use proof-of-work authentication methods to validate blockchain transactions; provides that such operations shall be subject to a full generic environmental impact statement review.