New York isn’t ready for bitcoin mining, says state lawmaker proposing a three-year moratorium
May 19, 2021, 11:26AM EDT · 11 min read
Quick Take
- A recent bill to temporarily halt crypto mining centers operating in New York has drawn the ire of the industry.
- The bill’s author sat down with The Block to explain her side of the argument.
- Critics of the new mining centers point to their use of outdated power plants and creative corporate structuring, as well as a 2019 law that mandates New York to undertake a significant reduction in emissions and energy use in coming decades.
Can Bitcoin mining coexist with New York's stringent environmental laws?
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