The New York Legislature approved a two-year, limited moratorium on digital currency mining at fossil fuel power plants
Upstate New York has become an attractive destination for companies that “mine” digital currencies including Bitcoin. | Marco BelloGetty ImagesALBANY, N.Y. — The New York Legislature early Friday approved a two-year, limited moratorium on digital currency mining at fossil fuel power plants.
“The New York Senate has stood up for New Yorkers and our landmark climate law with the passage of this crucial bill to address cryptomining in fossil fuel power plants,” said Liz Moran, New York policy advocate for Earthjustice in a statement. “With this bill’s passage, the legislature has rightly said fossil fuel power plants can’t get a second life in New York just for private industry gain, which would fly on the face of the state’s climate mandates.
“The message won’t be about the details… It’ll be about an emerging industry New York is saying no to,” said Sen. Jeremy Cooney , whose district encompasses the headquarter of Foundry, a digital currency industry company that has lobbied extensively against the moratorium. “Every job matters for me in Rochester.”
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